France Telecom, Kulczyk Gain Seats On TPSA Board.
Published:
17 October 2000 y., Tuesday
France Telecom and Polish conglomerate Kulczyk Holding have gained a significant voice on the supervisory board of Polish telecoms firm TPSA after the group completed the purchase of 35 percent of the operator last week.
TPSA said in a statement that the head of the private conglomerate, Jan Kulczyk, was picked as the chairman and four more representatives of the France Telecom-led consortium were appointed to the 16-member supervisory board.
The Polish treasury appoints five members of TPSA's board, employees four and minority shareholders the remaining two. France Telecom bought 25 percent of TPSA and Kulczyk 10 percent for PLZ 18.62 billion on Thursday.
The Polish government plans to sell another 16 percent to the French giant by the of September 2001, giving the France Telecom-led consortium a majority of the Polish operator.
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