The transaction

According to the president of the Polish division of Danish telecom operator Tele Danmark Communications (TDC) Dariusz Dкbski, his company is interested in taking over a majority stake in Energis Polska. This company currently supplies data transmission services, internet access and voice transmission to over 600 commercial clients. The main shareholders of Energis Polska are British telecom operator Energis PLC, the British energy company National Grid, and Polish State Railways (PKP). According to Dariusz Dкbski, TDC Internet Polska may take over Energis Polska shares in exchange for its debts, which presently exceed $100 million. Meanwhile, the president of Energis claimed that choosing an investor by the end of July is unlikely, but the transaction should be finalized during the third quarter of 2002. TDC Internet Polska is also considering investing in Krajowa Grupa Telekomunikacyjna (KGT), which will be created out of independent domestic telecom operators. TDC Internet Polska expects revenues of zі. 70 million for 2002, which is zі. 31 million more than last year.