WARSAW, Nov 21 (Reuters) - A Polish court has paved the way for the
long-delayed sale of TDC's 19.6 percent stake in Poland's second largest mobile
firm, Polkomtel, by lifting an injunction that had halted the deal, a court
official said on Friday.
Last month British mobile giant Vodafone, which also owns 19.6 percent of
Polkomtel, agreed to buy a further 4.8 percent from Denmark-based TDC for 176
million euros ($220 million).
That deal resolved a legal challenge by Vodafone to TDC's original exit
plan, announced in 2006, when it agreed to sell its entire stake to Polkomtel's
Polish shareholders -- PKN Orlen , KGHM, PGE and Weglokoks -- for 650.5 million
euros.
Some of the Polish shareholders, especially cash-hungry refiner PKN Orlen
and power group PGE, are now also thinking about exiting Polkomtel, which lies
outside their core business. Only KGHM had declared a long-term interest in the
venture.
Vodafone, which some analysts now see as a likely majority shareholder of
Polkomtel, had initially feared the three state-controlled Polish firms would
raise their combined stake to more than 75 percent.
Ahead of TDC's exit, PKN and copper miner KGHM each has a 19.6 percent in
Polkomtel, on a par with TDC and Vodafone. PGE has 17.6 percent and Weglokoks 4
percent.
(Reporting by Adrian Krajewski; editing by John Stonestreet) ($1=.7987
Euro) ($1=.7987 Euro) Keywords: POLKOMTEL/
(adrian.krajewski@thomsonreuters.com; +48 22 653 9709; Reuters Messaging:
adrian.krajewski.thomsonreuters.com@reuters.net)
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