In May 2016, Polska Grupa Energetyczna (PGE) and Polska Grupa Zbrojeniowa (PGZ), Polish state-owned company, subordinate to the Ministry of National Defence, signed a letter of intent announcing a change of the ownership of Exatel, one of the major data transmission and line rental operators in Poland. As stated in the letter, the cooperation of companies should have lasted 6 months.
According to rpkom.pl, the negotiations of the terms of the transaction worth over PLN 300m (€68.2m) are currently underway. However, the details of negotiations are covered by a confidentiality agreement. The deal will be signed in the coming months.
According to a person close to the transaction, PGZ is also considering purchase of another company in the ICT sector, which is especially interesting bearing in mind that it would be a private entity. The state-owned company could acquire Hawe Telekom, Mediatel’s subsidiary, and indirectly Hawe SA. Hawe Telekom, Polish telecom operator, is Industrial Development Agency’s debtor. IDA has also recently capitalized PGZ for the needs of Szczecin Technology Park. IDA wants to sell Hawe Telekom to the foreign investor. Adam Stolarz, the former vice president of IDA, was a keen supporter of Exatel and Have merger.