Warsaw (Puls Biznesu) – Poland’s Treasury Ministry is considering selling the nearly 4 percent stake it still has in TPSA telecom to France Telecom (FT), the owner of a 47.5 percent stake. Jacek Socha, the Treasury Minister, told yesterday MPs that it is a good moment to sell the stake although analyses would be needed. He said, FT had already submitted its offer. He expected a control premium from the French telecom.
Analysts agree with the minister. ‘The decision has been expected for a long time. It is a good moment because the company’s evaluation seems to be at the highest possible level and should not improve’, Krzysztof Kaczmarczyk, Deutsche Bank analyst said. Michal Marczak, DI BRE analyst, believed that a 10 percent premium would be paid by FT, while Krzysztof Kaczmarczyk believed it would be even 10-15 percent. The 4 percent stake is worth over PLN 1.1 billion (EUR 276.6 m), or PLN 1.3 billion with the premium.
(PLN 1 = EUR 0.251)Poland/Enterprises/Telecommunication