Polish court paves way for TDC exit from Polkomtel

WARSAW, Nov 21 (Reuters) - A Polish court has paved the way for the long-delayed sale of TDC's (TDC.CO) 19.6 percent stake in Poland's second largest mobile firm, Polkomtel, by lifting an injunction that had halted the deal, a court official said on Friday.

Last month British mobile giant Vodafone (VOD.L), which also owns 19.6 percent of Polkomtel, agreed to buy a further 4.8 percent from Denmark-based TDC for 176 million euros ($220 million).

That deal resolved a legal challenge by Vodafone to TDC's original exit plan, announced in 2006, when it agreed to sell its entire stake to Polkomtel's Polish shareholders -- PKN Orlen PKNA.WA, KGHM KGHM.WA, PGE and Weglokoks -- for 650.5 million euros.

Some of the Polish shareholders, especially cash-hungry refiner PKN Orlen and power group PGE, are now also thinking about exiting Polkomtel, which lies outside their core business. Only KGHM had declared a long-term interest in the venture.

Vodafone, which some analysts now see as a likely majority shareholder of Polkomtel, had initially feared the three state-controlled Polish firms would raise their combined stake to more than 75 percent.

Ahead of TDC's exit, PKN and copper miner KGHM each has a 19.6 percent in Polkomtel, on a par with TDC and Vodafone. PGE has 17.6 percent and Weglokoks 4 percent.

(Reporting by Adrian Krajewski; editing by John Stonestreet)