Shareholders of Polkomtel SA, including Vodafone Group Plc, may end their dispute over ownership of mobile phone operator within three months, a Polish shareholder told Parkiet. PKN Orlen SA, which wants to sell its 19.6 percent stake in Polkomtel, holds the view that it could close the deal six to 12 months from now, provided the case settles, the newspaper quoted Chief Financial Officer Pawel Szymanski as saying. Vodafone, which is suing to block a sale of shares by TDC A/S to other owners including Orlen and copper producer KGHM Polska Miedz SA, could raise its stake to 49 percent from the current 19.6 percent, Parkiet reported, citing unidentified people close to the Treasury Ministry.
Our view: We welcome the quick settlement of this dispute. PKN orlen, currently being rather stretched financially, may get additional funds after selling its stake, which might improve the company’s gearing. We expect the neutral market reaction to the news.