Energis does not need investor

Alan Heath
opublikowano: 2002-09-12 00:00

Following the difficulties of the British parent of telecommunications firm Energis Polska, it seemed likely as though the company would seek an investor. However with USD20m still in the bank and profitability foreseen for the end of the year, Energis is in a strong position to seek additional credit. A number of candidates came forward as a potential adoptive parent for Energis Polska. The most serious was TDC (formerly Tele Danmark Communications). It carried out due diligence in the summer but no further information is known. Dariusz DÄ…bski, MD of TDC Internet Polska, was unwilling to talk about the subject. It could be that a sale of Energis Polska will not be necessary. Its parent found itself with debts of EUR125m although it is possible that the Polish Energis comes to a deal with the National Grid very soon. It is likely that the capital would be increased to such a sum necessary to eliminate the debt. This would avoid the necessity of selling the company. Sales this year could come to USD13m and be sufficient to put it in the black. Despite the current difficulties of the telecoms market, it could be that this profit together with aid from its main shareholder and its current bank balance could keep it in form until the market improves for the better.