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Privatisation of TP S.A. finalised
The Ministry of Treasury sold 4.15% shares of Telekomunikacja Polska S.A. through the Warsaw Stock Exchange as a final step in the privatisation of the Polish telecommunications giant. The sale took place during 44 trading session, lasting from 14 January to 5 August 2010. The stake of TP S.A. shares was sold for PLN 884,890,127.39 as part of the programme implemented by the Polish Ministry in relations with the capital market.
The sale process was conducted in accordance with the principles set out in the document titled “Key Companies to be privatised in the years 2009-2010. Revised Privatisation Programme 2008-2011” submitted to the Council of Ministers in August 2009 under which the sale of shares held in Telekomunikacja Polska S.A. was scheduled to take place by the end of 2010. In line with these assumptions, the Ministry worked out an algorithm based on which the shares of TP S.A. were sold for prices not lower than the average price from the last 6 months. Successive transactions were made at market prices without discount.
Successful privatisation of Telekomunikacja Polska S.A. was possible due to the well crafted plan – unprecedented in terms of duration, scope and the specific nature of the Warsaw stock market.
Author : Public Relations Office
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