Spanish incumbent Telefonica will not bid to buy Polish mobile operator Polkomtel, according to media reports citing Polish daily Parkiet.
This follows other reports that the seven candidates included Polish businessman Zygmunt Solorz-Zak, TeliaSonera,…
Spanish incumbent Telefonica will not bid to buy Polish mobile operator Polkomtel, according to media reports citing Polish daily Parkiet.
This follows other reports that the seven candidates included Polish businessman Zygmunt Solorz-Zak, TeliaSonera, Telenor, KKR, Providence, and Apax, which are now able to conduct due diligence.
According to TelecomFinance sources, Apax (advised by Morgan Stanley) and Bain Capital (advised by BNP Paribas) are likely to join forces. Another source said that the Blackstone/TPG consortium (advised by Credit Suisse, JPMorgan and Raiffeisen Investment), which had been tipped earlier as a strong candidate, had not been shortlisted.
Telenor is reportedly advised by Barclays and TeliaSonera is working with BoA Merrill Lynch.
According to reports, Solorz-Zak has placed the highest bid at PLN18bn (E4.5bn), while the lowest bid would be PLN2bn (E4bn) lower.
KGHM, PKN Orlen, and Vodafone each have a 24.39% stake in Polkomtel, with PGE holding 21.85% and Weglokoks 4.98%.
PKN Orlen is advised by Nomura, while PGE appointed ING.
KGHM is advised by Rothschild, and Vodafone hired Goldman Sachs. Nomura is understood to be coordinating the pool of advisers.
