Seven groups shortlisted for Polkomtel (Poland)

On 03.08.11, In Mobile, By Editor

Seven companies have been reportedly shortlisted to buy Polish cellco Polkomtel. According to reports, the list includes TeliaSonera, Telenor, four private equity fund consortia led by Blackstone Group, KKR, Prudential and Bain Capital, as well as Polish media mogul Zygmunt Solorz-Zak.

According to reports, Solorz-Zak had placed the highest bid -worth more than US$6.32 billion. The amount is above the highest valuation of Polkomtel, prepared by BZ WBK brokerage for one of the cellco’s shareholders. Reports added that a shortlist of bidders will be selected to conduct due diligence within the next few days.

Polkomtel’s current shareholders are Vodafone Group, Polish oil refiner PKN Orlen and copper mining group KGHM Polska Miedz, each with 24.39% stakes. Polish power utility PGE Polska Grupa Energetyczna owns a 21.85% stake while coal miner Weglokoks holds 4.98%.

 

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TeliaSonera submits bid to buy Poland’s Polkomtel (Sweden)

On 02.23.11, In Mobile, By Editor

Sweden’s TeliaSonera has confirmed that it has submitted a bid for Polish mobile network operator, Polkomtel – which has been put up for sale by its shareholders.

The company is supposed to be worth around US$5 billion.

According to TeliaSonera’s spokeswoman, they did put in an indicative offer and the advisers to the sellers will select who can continue.

Polkomtel, which trades as the Plus network is owned by Vodafone (24.4%), PKN Orlen (24.4%), KGHM Polska Miedz’ (24.4%), Polska Grupa Energetyczna (21.85%) and Weglokoks (4.98%)

It had been previously reported that Apax Partners, Blackstone, TPG and CVC Capital Partners are among the big private equity groups working on potential bids for the Polish company, although that was before the formal tender document was issued last month.

In total, some 20 companies, including Telenor, Telefonica and America Movil have purchased bid documents, although that is sometimes for information about competitors rather than an indication that they want to buy the company.

Vodafone has a right of first refusal to buy out the other shareholders but has indicated that it would prefer to sell instead and recently split the shareholding out from its European division indicating that a sale was imminent.

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Polkomtel to receive indicative offers by 21 February? (Poland)

On 02.08.11, In Mobile, By Editor

If sources are to be believed, indicative offers for Polish mobile network operator Polkomtel are due by 21 February.The  sellers are expected to cut down the shortlist of potential suitors to conduct due diligence by early March.

According to sources, the long-awaited information memorandum on Polkomtel was sent out last Monday. US buyout firms TPG and Blackstone Group are reportedly mulling over a shared bid, while London-based CVC Capital Partners and Apax Partners are looking at making their own bids for the company, as is Swedish telco TeliaSonera.

The eagerly expected sale has been complicated by the fact that Polkomtel is owned by five companies, with the Polish government holding substantial stakes in three of them, and each retaining their own financial advisor.

Poland’s largest power group, PGE holds a 21.85% stake in Polkomtel and is advised by ING Securities; oil refiner PKN Orlen holds 24.39% and is advised by Nomura Holdings; copper miner KGHM Polska Miedz also has 24.39% and is advised by Rothschild.

Poland’s Treasury owns stakes of 84.99%, 27.52%, and 31.79% in the three companies, respectively. The remaining shareholders in Polkomtel are Vodafone Group, which has a 24.39% stake, and coal miner Weglokoks, which is wholly owned by the Treasury and holds a 4.98% stake.

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Polkomtel sale details to be sent out to potential investors

On 11.16.10, In Mobile, By Editor

If reports are to be believed, the proposal document for the long-planned sale of Polish mobile network operator, Polkomtel will be sent to potential investors in the coming days. The sale is expected by the end of the first half of 2011.

Polkomtel which trades as the plus network is a joint venture of Vodafone, PKN Orlen, KGHM Polska Miedz’, Polska Grupa Energetyczna and Weglokoks.

The company is estimated to be worth around US$1.6 billion.

As per the previous reports, Apax Partners, Blackstone, TPG and CVC Capital Partners are among the big private equity groups working on potential bids for the Polish company. A buy-out of the group would be one of Europe’s biggest private equity deals since 2007.

Vodafone has a right of first refusal to buy-out the other shareholders, but has indicated that it would prefer to sell instead.

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Vodafone confirms willingness to sell Polkomtel stake

On 10.19.10, In Mobile, By Editor

As per the recent reports, Vodafone Group has assured its fellow shareholders in Polkomtel that it is ready to begin the sale of its 24.39% stake in the Polish mobile operator.

Polish firms KGHM Polska Miedz and PKN Orlen both hold shares of equal size to the UK-based group; even the domestic power company Polska Grupa Energetyczna has a 21.85% stake and Weglokoks, a Polish coal exporter, 4.98%.

The approval of all shareholders is needed to proceed with the sale. According to local reports, part of Polkomtel’s equity could be listed on the Warsaw Stock Exchange.

Last month it was revealed that some of the world’s biggest private equity groups are lining up leveraged buy-out bids worth approximately US$5.2 billion for Polkomtel, including Apax Partners, Blackstone, TPG and CVC Capital Partners.

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Polkomtel to postpone its IPO (Poland)

On 02.05.10, In Mobile, By Editor

www.WirelessFederation.com/news: Polkomtel may change the date of its initial public offering (IPO) and the floatation is expected to shift until Q3 while it was supposed to take place in Q1 2010.

Refiner and petrol retailer PKN Orlen (24.39%), copper and silver producer KGHM (24.39%) and Electricity Company Polska Grupa Energetyczna (PGE, 21.85%) are the three largest shareholders of the company.

One of the shareholders Orlen announced last year that it needs additional funds and therefore wants Polkomtel to be floated.

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Polish court approves sale of TDC’s 19.6% stake in Polkomtel (Poland)

On 11.24.08, In Mobile, By Editor

Polish courts give a green signal to the much awaited sale of TDC’s 19.6% stake in Poland’s second largest mobile firm, Polkomtel. The courts lifted the injunction that had halted the deal. In October, Vodafone which holds 19.6% stake in Polkomtel had shown interest in buying further 4.8% from TDC for $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 $824.95 million.

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