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TK Telekom sale lined up for 2014

11th December 2013
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State-owned railway group PKP is planning to make a second attempt at selling its telecommunications subsidiary TK Telekom in 2014.
 
The previous attempt failed after bids placed by GTS, Netia, Hawe and Polpager did not satisfy the PKP, which in 2012 wanted over zł.400 million from the sale.
 
This time the railway group plans to spin off non-telecom activity before the firm's sale. TK Telekom has already been divided into four segments, two of which will be transferred to separate companies before the end of March. The two segments that are set to be spun off manage maintenance and construction work for the firm.
 
It is unlikely that the firm will go public. PKP CEO Jakub Karnowski told Dziennik Gazeta Prawna that TK Telekom will most likely be sold to a strategic investor.
 
The assets for sale will however include TK Telekom's 6,000 kilometer fiber optic network. It is seen as the most valuable part of the company.
 
In 2012 TK Telekom made net profits of zł.3.1 million – almost two thirds less than the previous year – with revenue amounting to zł.311 million, a 6 percent rise on 2011 figures.
 

From Warsaw Business Journal


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