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PKN mulls floating Polkomtel stake on bourse-paper

Tue Jun 30, 2009 3:02am EDT

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WARSAW, June 30 (Reuters) - Poland's top refiner PKN Orlen PKNA.WA is considering floating its stake in the country's top mobile operator, Polkomtel, among the options to unload the non-core holding, its head was quoted as saying on Tuesday.

"Options include selling our stake or floating the company on the bourse," Jacek Krawiec told daily Puls Biznesu. "The latter option is an alternative but quite a realistic one."

Facing pressure to slash debt, PKN has said it wants to sell its 25-percent holding in Polkomtel by year-end.

Polish copper miner KGHM KGHM.WA, also state-controlled, wants to hold on to its stake, dashing hopes the two could jointly sell a controlling stake to Vodafone (VOD.L), which also owns a quarter of Polkomtel.

"This is an alternative scenerio and there are no talks about this," said PKN spokesman Dawid Piekarz. (Reporting by Adrian Krajewski and Pawel Bernat; Editing by Dan Lalor)



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