Polkomtel Sale May Close in June

A sale of Polish mobile operator Polkomtel will close in June, Reuters reported, citing comments by the chief executive of KGHM, which co-owns Polkomtel. The sellers – Vodafone, and a group of Polish state-linked companies including KGHM – expect to fetch up to 18 billion zlotys ($6.5 billion) in a sale. Private equity firm Apax Partners and a joint venture of Telenor and Bain Capital are among potential buyers.

(Reuters) – The sale of Polkomtel [PTL.UL] will close in June, the chief executive of KGHM, which co-owns the Polish no.2 mobile operator, said on Tuesday, dismissing talk the deal might fall apart.

“All of the shareholders involved in the process are cooperating and I expect it is possible to close the transaction in June,” Herbert Wirth told Reuters.

Sources close to the discussions had previously told Reuters some participants in the sale fear the deal could be delayed or tripped up by last-minute wrangling among the five sellers and their advisers.

Polkomtel, which is expected to fetch up to 18 billion zlotys ($6.5 bln), was put up for sale by Vodafone and Polish state-linked companies: oil refiner PKN , utility PGE , miner KGHM and coal exporter Weglokoks.

The sellers have shortlisted Sweden’s TeliaSonera , Polish media mogul Zygmunt Solorz-Zak, private equity firm Apax [APAX.UL] and a joint venture of Telenor and Bain Capital.

PKN Orlen Chief Executive Jacek Krawiec also said last week the process should be closed by end-June.

(Reporting by Wojciech Zurawski; Writing by Patryk Wasilewski; Editing by David Holmes)