News Parkiet

Telecommunications

TP may lose 20% of the market, official says

Poland's former telecommunications monopoly Telekomunikacja Polska may lose as much as 20 percent of the fixed line market as it opens up to new carriers, senior official at the Transportation and Construction Ministry said yesterday. '(TP's) retail market share may fall to approximately 70 percent, deputy minister for telecommunications Anna Streżyńska said. France Telecom-controlled carrier now has about 90 percent of the market.

Ms. Streżyńska's department wants TP to sell wholesale network access to alternative at a discount of up to 50 percent from the existing rates.

Equity markets

Stockbrokers facing insider trading charges

Former Erste Securities stockbroker along with an associate are facing insider trading charges after they made over 400 000 zloty in just one day selling a stake in Żywiec brewery to ABN Amro. The broker, whose last name cannot be published because of Polish privacy laws, is reported to have purchased a 3.15 million zloty stake in Żywiec on his friend's brokerage account on April 1, 2003 after learning that ABN Amro Corporate Finance is seeking to buy 20 000 shares of the company. He sold the stake to ABN Amro in an after-hours trade netting 3.57 million zloty and pocketing the difference.

Charges against the two, including violation of professional secrecy and use of confidential information for personal gain, may include a fine of up to 1 million zloty and up to three years in prison.

Chemicals

Boryszew group raises forecast

Boryszew chemicals group raised this year's earnings target by as much as 80 percent late Wednesday after booking an extra gain when key subsidiary, publicly traded Impexmetal canceled some of its outstanding shares. Controlled by Polish businessman Roman Karkosik, Boryszew raised its forecast from 69 to 125 million zloty. Negative goodwill from Impexmetal accounts for most of the 55.9 million zloty in additional profits, Boryszew CFO Krzysztof Adamski said.

Shipping

Odratrans calls off IPO plans

Barge operator Odratrans has formally called off its 31-million zloty IPO after delaying expansion plans in Poland and Germany. The company postponed its offering in late June citing poor market conditions, Company officials said Odratrans is unlikely to try again 'for a few years'.

Food processing

Rolimpex hit by bird flu scare

Animal feed maker Provimi-Rolimpex admitted yesterday it had to cut margins for some of its products because of the threat of bird flu epidemic, which hit some of its key customers. Sales to poultry producers account for about 80 percent of Rolimpex overall revenues.