Poland's second largest local phone company Netia S.A. plus four unnamed financial investors were shortlisted for negotiations on the possible purchase of Telefonia Dialog, a fixed-line subsidiary of KGHM Polish Copper, KGHM's Chief Financial Officer said yesterday. Negotiations with selected candidates and due diligence could begin in two months' time, KGHM's Andrzej Szczepek said.
Wholly owned subsidiary still owes its parent company about 1.4 billion zloty ($360 million). KGHM suggested yesterday it would forgive Dialog the entire amount, since the debt is unlikely to be repaid in any case.
Banking & finances
Getin to invest PLN 300 million
in GBG regional bank
Getin Holding will invest as much as 300 million zloty in Górnośląski Bank Gospodarczy (GBG), a regional bank it will buy from Bank Austria subsidiary BPH Bank, CEO Leszek Czarnecki said yesterday. Getin agreed to buy majority stake in GBG several weeks ago together with Nathaniel Rothschild's JNR Acquisitions. It now plans to sell 245 million new shares priced at 1.35 zloty each to finance the acquisition. Getin, a former B2C e-commerce group turned investment holding company already owns a leasing firm in Russia's Kaliningrad district and a small call center in Poland.
