Polish businessman Zygmunt Solorz-Zak is close to signing a deal to buy Polish mobile operator Polkomtel SA for around $6.6 billion, a person familiar with the situation said Thursday, in what would be the largest buyout in the European telecommunications sector this year.

The deal is expected to be signed by Solorz-Zak and Polkomtel's shareholders Thursday, the person added.

The sale process, launched in January, was complex because of Polkomtel's ownership structure and the government's involvement. The sale is part of Poland's wide-ranging privatization program that raised PLN22 billion from asset sales last year, with PLN15 billion in asset sale revenue expected in 2011.

The program is aimed at reducing government ownership in a limited list of large strategic companies to between 25% and 30% by 2013, while completely selling off or liquidating hundreds of inefficient small- and medium-sized companies.

Solorz-Zak was competing for the company, one of three major mobile phone operators in Poland, with private equity firm Apax and Norway's Telenor ASA (TEL.OS), according to people familiar with the matter, and securing the deal significantly expands his media and communications empire.

Solorz-Zak's personal wealth has been estimated at PLN7.2 billion, much of it tied up in his majority stake in television broadcaster Cyfrowy Polsat SA (CPS.WA). He is looking to sell part of the stake to finance his telecom investments, Cyfrowy Polsat said in a statement earlier this month.

Solorz-Zak and his business partner Hieronim Ruta directly and indirectly control about 70% of the broadcaster, which is valued at around $2 billion at the current stock price. He plans to retain a majority of shares after the sale.

The imminent sale of Vodafone Group PLC's (VOD) 24.39% stake in Polkomtel, meanwhile, completes the mobile giant's year-long campaign of shedding minority holdings, leaving Chief Executive Vittorio Colao free to focus on how to make the most of surging demand for mobile data and from the company's vast operations across Europe, India and Africa.

Vodafone's likely exit from Polkomtel comes two months after the sale of its 44% stake in French telecommunications operator SFR for EUR7.95 billion to Vivideni SA (VIV.FR). Last year, Vodafone also sold its minority holdings in Japan and China to focus on key areas of growth potential, including mobile data, enterprise and emerging markets.

U.K.-based Vodafone has pledged to return most of the sale money to shareholders via share buybacks. But it has also been spending some cash, having recently agreed to pay $5 billion to buy out its joint-venture partner in India to strengthen its position in a challenging market.

Polkomtel's other shareholders include oil refiner PKN Orlen SA (PKN.WA) and copper miner KGHM Polska Miedz SA (KGH.WA) which both own 24.39%, as well as Poland's largest power group PGE Polska Grupa Energetyczna SA (PPOLF) which holds a 21.85% stake. The Polish Treasury holds stakes in the three owners of 27.52%, 31.79% and 84.99% respectively. Coal miner Weglokoks SA, which is wholly owned by the Treasury, and holds a 4.98% stake in Polkomtel.

-By Lilly Vitorovich, Dow Jones Newswires; +44 207 842 9290; lilly.vitorovich@dowjones.com