VODAFONE AIRTOUCH PLC
14 October 1999
VODAFONE AIRTOUCH TO INCREASE STAKE IN POLAND
Vodafone AirTouch Plc announces today that its wholly
owned subsidiary AirTouch Communications, Inc. has
entered into a preliminary sale agreement to acquire a
5.5% stake in Polkomtel S.A. from Stalexport S.A. The
agreement relates to 825,000 registered common shares in
Polkomtel, being acquired for a cash consideration,
payable on completion, of US$ 145 million.
The preliminary agreement is subject to rights of pre-
emption in the Articles of Association of Polkomtel and,
therefore, the amount by which the Vodafone AirTouch
stake in Polkomtel will increase will depend upon the
extent to which, if any, the other shareholders elect to
exercise their pre-emptive rights, which are pro rata to
existing shareholdings. The procedures relating to the
exercise of pre-emption rights are expected to be
concluded in approximately 90 days, with the closing of
the transaction occurring shortly thereafter.
Vodafone AirTouch currently owns 19.25% of Polkomtel's
issued share capital. Polkomtel is the operator of the
Plus GSM mobile telephone service in Poland. It was
awarded its licence in February 1996, and at the end of
September 1999 had over 1.3 million customers.
For further information contact:
Tim Brown, Investor Relations Director, or
Melissa Stimpson, Senior Investor Relations Manager
at Vodafone AirTouch Plc
Telephone 01635 33251
Lulu Bridges
Tavistock Communications
Telephone: 0171 600 2288
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