News Parkiet

Telecommunications

MNI in talks to buy Telefonia Pilicka

Publicly traded telecommunications group MNI SA has agreed to buy Telefonia Pilicka, a fixed-line voice carrier from central Poland from a holding company controlled by three US CLECs, one of the three said in a recent quarterly report. Central Pennsylvania phone and data carrier said MNI will pay approximately 15.75 million dollars for Pilicka, a regional company with some 37 000 subscribers and first-half sales of 6.26 million dollars.

Currency markets

New government to decide on euro adoption

Marek Belka?s lame duck government won?t be making any binding statements concerning Poland?s adoption of the common currency, the country?s Finance Minister said on Friday. His department published a report on the adoption of euro that outlined three stages of the integration with EU?s currency market, including a six-month period set aside for discussions with the European Central Bank and the European Commission, a two-year stay in ERM2 plus another six months to prepare for the actual changeover to the common currency.

Banking

Getin buys another mortgage broker

Getin Holding financial group said it has agreed to pay 3.5 million zloty for the 60 percent stake in Łódź-based Fiolet, a small but profitable mortgage broker. The group may sell its Russian unit, Carcade Rosja car leasing firm citing ?deteriorating investment climate?, its founder Leszek Czarnecki said.

Home appliances

Amica to recover from 1H loss

Home appliance maker Amica S.A. says it will recover from its 1H loss by boosting its export sales. Amica, which lost an estimated 2.1 million zloty after a 15 percent decline in sales to PLN 222.6 million in the first six months of this year, expects some 40 million zloty in earnings, CFO Dariusz Szczypiński told PARKIET on Friday.