The European Bank of Reconstruction (EBRD) is allocating $284 million of equity to Polish mobile firm Polkomtel, Reuters reports. The EBRD will offer the cash to Metelem Holding, a company incorporated in Cyprus and majority owned by Polish billionaire Zygmunt Solorz-Zak.
Solorz agreed on July 1 to acquire Polkomtel from Vodafone and numerous Polish state-linked companies. The buyout is being funded with $1.66 billion of equity and a $4.5 billion debt package underwritten by Deutsche Bank, Credit Agricole, Royal Bank of Scotland, Societe Generale and BP.
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