On 27 April this year the Management Board of PGE Polska Grupa Energetyczna S.A. approved the results of the procedure for the selection of a financial advisor to PGE. The best offer had been submitted by a consortium consisting of ING Securities S.A., ING Bank Śląski S.A. and ING Bank N.V. The financial advisor will be responsible for the provision of support services in developing the optimum structure of and conducting a transaction related to a sale of PGE's 21.85% shareholding in Polkomtel S.A.

PGE intends to prepare and carry out this transaction in cooperation with Polkomtel's other shareholders in whom the State Treasury holds shareholdings, i.e. PKN Orlen, KGHM and Węglokoks.

- Our objective is to acquire the best possible price in this transaction, and we can achieve this by offering a majority shareholding together with the other Polish shareholders in Polkomtel. Such an offer will surely be very interesting for potential investors,  said Mr Tomasz Zadroga, Management Board President of PGE Polska Grupa Energetyczna S.A. After selecting a financial advisor, PGE and the other Polish shareholders will be able to analyse the best possible scenarios for this process. I expect the sale of Polkomtel is possible by the end of this year, added Mr Zadroga.

The decision to start preparations for the sale of Polkomtel S.A. shares is consistent with the strategy of the PGE Capital Group; the strategy provides for the Group's focusing on its core business and disposing of assets not related to power generation.  

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