News Parkiet

Telecommunications

Tel-Energo sees double-digit growth in 2003

Tel-Energo data carrier expects this year?s sales to rise to approximately 290 million zloty, its CEO Tomasz Kibil told PARKIET on Monday. The firm, which operates Poland?s second largest fiber optics network, hopes to raise 180 million zloty selling 1.5 percent stake in Polkomtel mobile operator to finance next year?s investments in telecommunications infrastructure.

Tel-Energo?s owner, PSE power grid operator has put the company on the auction block, but the sale is unlikely to be completed this year. The firm might be listed on the Warsaw Stock Exchange at some point in the future, Kibil said.

Information Technology

ComArch signs new contracts in Ukraine

ComArch S.A. software house announced the signing of two large contracts to sell telecommunications software to UMT, leading Ukrainian mobile phone company. The two contracts have a combined value of 4.8 million euro, making yesterday?s deal the largest international sale for Cracow-based firm.

Separately, ComArch CEO, professor Janusz Filipiak said he expects the company to post unconsolidated earnings of between 11 and 12 million zloty this year. The firm sees group sales at 240 to 250 million zloty in 2003, rising another 10 percent next year.

Filipiak, who founded ComArch in early 1990?s after returning an international academic career, says the software-maker will open two new sales offices in Kiev and in Dubai to sell its telecommunications products.

Venture capital

MCI buys into Iplay online music service

WSE?s only publicly traded venture capital fund MCI Management paid 150.000 zloty ($37.500) for a 51 percent stake in Iplay.pl, Poland?s first legal online music distribution website. MCI?s newest project hopes to make money by selling access to MP3 files in return for a small fee. Each song distributed via Iplay costs 0.12 zloty or less.

Iplay.pl started in September 2003. Start-up firm does not release any financial figures. Iplay.pl is MCI?s tenth active investment project.