Polish state telecommunications company sale

The Polish government has awarded a French company exclusive negotiating rights over the sale of a major stake in the state telecommunications company, TPSA.

The Polish treasury minister, Emil Wasacz, said France Telecom was being offered the chance to buy a thirty-five per cent stake in the company, valued at four-billion dollars. He said the stake could eventually be increased to fifty-one per cent. France Telecom beat Italia Telecom to win the deal, which correspondents describe as the crown jewel in Poland's privatisation process.

From the newsroom of the BBC World Service