News Parkiet

Monetary policy

Poland to postpone euro adoption?

Hungarian central bank governor said yesterday his country has no chance of adopting the euro in 2010, sparking a sell-off of stocks listed on the Budapest exchange and prompting speculations that Poland would follow the footsteps of its southern neighbor. Most domestic economists caution that no one seriously expected either country to be ready for the euro four or five years from now.

Telecommunications

ATM to raise sales target

Fiber optics company ATM SA plans to raise its revenue estimate from 108 to at least 120 million zloty, CFO Tadeusz Czichon said. He added that ATM may pay a dividend of approximately 0.7 to 0.8 zloty a share from this year?s earnings.

Information technology

Teta to go public in December

Enterprise Resource Planning software house Teta plans to list its shares on the WSE in mid-December, chief executive Jerzy Krawczyk said. Teta and its main shareholder, Enterprise Investors private equity fund, may sell up to 3 million shares for a total of 30 to 42 million zloty.

Paper industry

Mondi Packaging sees lower earnings

Anglo American-controlled Mondi Paper Packaging, a major Polish manufacturer of cardboard paper and paper sacks, expects lower earnings this year because of higher prices of paper pulp and strong Polish zloty. MPP reported profits of 277 million zloty, or about 86 million dollars last year.