Magyar engages in telecoms deal

The London and Warsaw offices of Baker & McKenzie have acted in the largest domestic offering and listing of shares in Poland, doubling the market capitalisation of the Warsaw stock exchange.

The u530m offering of shares and GDRs of Polish telecoms giant Telekomunikacja Polska SA (TPSA) also involved a London Stock Exchange offering and listing.

The offering consisted of a 15 per cent stake sold by the State Treasury of Poland, co-ordinated by Schroders, which was awarded the mandate earlier this year.

London-based international securities partner, Peter Magyar (pictured right), who led the Baker & McKenzie team, said: "We are delighted to have advised on what is a landmark initial public offering for the region and in the telecoms sector. We are hopeful that the TPSA transaction will pave the way for further emerging market conditions."

Securities partner Tom Philipp, telecoms partner Peter Strivens and four associates made up the team in London. Warsaw-based partners Tom Ujejski, Wojciech Bialik and Marcin Gmaj and two associates handled the Polish law side.

It was the first emerging market issue to be completed since the summer and has been widely praised as a success.