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Polish News Bulletin: INBRIEF

Published: Sep 03, 2007

Ukraine is considering selling a stake in the Odessa-Brody oil pipeline to a foreign investor, most likely the Netherlands’ Shell.

According to unofficial information, should the plan to privatise the pipeline be pursued, Poland will demand pre-emptive right of purchase for itself.

According to Monetary Policy Council (RPP) member Halina Wasilewska-Trenkner, if the processes responsible for increasing inflationary pressure are strengthened, the next twelve months could see two interest rate rises. This is less than analysts predict: in their opinion, by June 2008 the RPP may raise the rates three times.

Rzeczpospolita daily writes that the General Inspectorate for Banking Supervision (GINB) will not reach a decision regarding the merger of Bank BPH and Pekao SA this month. Without GINB’s consent, Italy’s UniCredit, which controls the two banks, will not be able to complete the sale of the leftovers from the merger to US bank GE Money.

In August, for the first time since May 2006, the value of assets managed by investment funds operating in Poland went down. According to analysts, the situation was a result of the disappointment of people investing their funds through these institutions with the performance of the WSE.

IT equipment distributor AB is to present the details of the planned share issue before its general shareholders’ meeting, which is scheduled for 21 September. The company intends to issue nearly six million shares. Its current share price is nearly ZL22.

This month, MAC Edukacja publishing house is to submit its prospectus to the Commission of Financial Supervision (KNF). The IPO is to bring in up to ZL40m. \nc 04000000

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