Poland: Analysts value Polkomtel at PLN 12 billion

APA - Austria Presse Agentur
20-01-2005, 10:22

Warsaw (Puls Biznesu) – Analysts of BDM PKO BP brokerage house value Polkomtel, the mobile operator at PLN 12 billion (EUR 2.9 billion). In their opinion, when PKN Orlen fuel giant and KGHM copper producer sell their stakes amounting to nearly 20 percent each, they will earn, respectively, PLN 1,551 m and PLN 1,333 m.

Warsaw (Puls Biznesu) – Analysts of BDM PKO BP brokerage house value Polkomtel, the mobile operator at PLN 12 billion (EUR 2.9 billion). In their opinion, when PKN Orlen fuel giant and KGHM copper producer sell their stakes amounting to nearly 20 percent each, they will earn, respectively, PLN 1,551 m and PLN 1,333 m. Analysts stress that selling Polkomtel on the bourse will allow to achieve a higher price.

‘In our opinion, such view is reasoned by high value of zloty, which will make a foreign investor to spend much more moneys in euro than, e.g. a year ago. From the point of view of an investor like Vodafone, or TDC, listing the company on GPW, and then increasing their stakes in the company in the future at different exchange rates may turn out to be a better solution than buying a controlling stake now’, the report said. Analysts value Polkomtel at PLN 11.99 billion, comparing the P/E, EV/EBITDA, EV/Sales indexes of a dozen mobile companies.

BDM expects the company to have net income in 2004 of PLN 870.74 m against sales of PLN 6.138 billion.

(PLN 1 = EUR 0.244) 

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Podpis: APA - Austria Presse Agentur

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Inne / Poland: Analysts value Polkomtel at PLN 12 billion