Poland’s Hawe has reportedly made a preliminary bid for TK Telekom, the telecoms unit of state-controlled railway firm PKP.
A representative for Hawe, which held parallel talks with PKP during the previous sale process, confirmed the move, Reuters…
Poland’s Hawe has reportedly made a preliminary bid for TK Telekom, the telecoms unit of state-controlled railway firm PKP.
A representative for Hawe, which held parallel talks with PKP during the previous sale process, confirmed the move, Reuters reported.
When contacted, a spokesman for the telecoms company said he could not comment due to a non-disclosure agreement.
A spokesman for local fixed-line operator Netia, which also held parallel discussions with the railway firm last time around, said he could not confirm or deny whether it had made a bid this time. However, he added that Netia remains interested in the consolidation of the Polish telecoms market.
An Exatel spokesperson said the company had not placed a bid.
Deutsche Telekom, owner of infrastructure-based telco GTS, which was also in talks with PKP during the last sales process, was not immediately available for comment.
PKP extended the deadline for initial bids from 14 to 26 November earlier this month, citing strong interest from potential investors as its reason for doing so. A spokesperson said investors needed more time to analyse company data and prepare their initial bids.
PKP has hired local firms mCorporate Finance and Audytel to provide financial advice on the sale of 100% of its shares in the telco, and Weil Gotshal & Manges to provide legal advice. The railway firm expects the sale to be completed by the end of the first half of 2015.
Analysts have valued TK Telekom, which owns Poland’s fourth-largest telecoms network, at about PLN400m (US$121m).
The European Bank for Reconstruction and Development (EBRD) has pledged to offer funding to potential investors, provided they receive consent from the EBRD’s credit committee.
