|
EBRD sells stake in Telekomunikacja Polska S.A.
The EBRD has sold its remaining stake in Telekomunikacja Polska S.A. (TPSA),
the leading Polish telecommunications company. The 11.3 million shares
represented 0.80 per cent of total TPSA shares and were sold at an exit price
which represented a small discount to today’s closing price of PLN 25.87 on
the Warsaw stock exchange.
The Bank originally acquired its stake in TPSA in 1998 as part of the initial
public offering, when the Polish treasury sold 15 per cent of the company.
France Telecom acquired a 35 per cent stake in TPSA in 2000 and subsequently
expanded its engagement in the company to a current 47.5 per cent.
The shares, which are listed on the Warsaw stock exchange, were placed with
domestic and international institutional investors through Citigroup Global
Markets Limited as sole bookrunner.
Peter Reiniger, EBRD Business Group Director, said that the Bank as an active
minority shareholder had supported the transformation of TPSA into a modern,
customer-oriented and efficient telecommunications operator. The fact that the
company is market-leader in fixed-line, mobile and internet services
demonstrates that the Bank’s goals have been achieved. The EBRD is proud to be
associated with this success and remains committed to transition investments
in the new EU member states in their post-accession phase.
###
The EBRD, owned by 61 countries and two intergovernmental institutions,
aims to foster the transition from centrally planned to market economies from
central Europe to central Asia. Visit the EBRD’s website: www.ebrd.com
Not for release or distribution, directly or indirectly, in or into the
United States, Canada, Japan or Australia.
The material set forth herein is for informational purposes only and is not
an offer to sell, or the solicitation of an offer to buy, any securities, in
any jurisdiction in which such offer, solicitation or sale would be unlawful.
In particular, it is not an offer of securities for sale or a solicitation of
an offer to purchase securities in the United States. The offer and sale of
these shares have not been, and will not be, registered under the United
States Securities Act of 1933, as amended. The securities may not be offered
or sold in the United States absent such registration other than pursuant to
an applicable exemption from registration. There will be no public offering of
the securities in the United States.
|
