Polkomtel Privatisation

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The EBRD has followed this critical privatisation since its inception a few months ago and was in discussions with several bidders participating in the process. Seeing strong merit in the strategy of the buyer and following the Board of Directors’ approval, the Bank intends to provide up to €200 million in the form of equity to Metelem Holding Company Limited, a company incorporated in Cyprus and majority owned by Mr. Zygmunt Solorz-Żak. Proceeds will be used for the acquisition of Polkomtel, one of the top three mobile telephony operators in Poland. The EBRD financing will be part of a total PLN 18.1 billion acquisition package consisting of PLN 4.8 billion equity contribution and PLN debt package underwritten by Credit Agricole, Deutsche Bank, PKO BP, RBS and Societe Generale. Polkomtel is being sold by its current owners (four Polish companies – PKN Orlen, KGHM, PGE and Weglokoks – as well as telecom company Vodafone) as part of a bidding process that involved several interested bidders. The successful privatization of Polkomtel will increase private ownership within the telecom sector in Poland and is expected to demonstrate a successful transition into an efficient and more profitable privately-owned company. Furthermore, the investment will accelerate the roll-out of LTE mobile broadband services which are currently not available in Poland The potential of LTE is especially evident in suburban and rural areas, which lack proper telecommunication infrastructure and remain underserved. Metelem Holding Company Limited is a company incorporated in Cyprus and majority owned by Mr. Zygmunt Solorz-Żak, one of the most successful entrepreneurs in Poland with over 20 years of experience in the successful development of a diversified range of enterprises (media, telecommunications, energy, finance, insurance, real estate etc.). Metelem Holding will ultimately own 100 per cent of Polkomtel and manage its activities. The Bank’s intended investment represents one of its largest equity investments and shows its strong commitment to the country, as well as continuation of the Bank’s strong relationship with Mr. Solorz-Żak. €200 million equity. €4.5 billion. Categorised B. The project is unlikely to be associated with significant environmental and social issues. The client is required to conduct its business and operation, including any future restructuring, in accordance with the designated PRs. None. Spartan Capital Holdings Sp. z o.o. Tobias Solorz E-mail: tobias.solorz@spartan.com.pl Tel: +48 22 514 55 00 Trigon Dom Maklerski S.A. Andrzej Sykulski E-mail: a.sykulski@trigon.pl Tel; +48 22 330 11 11