Locked content Esaliens TFI withdraws from merger with Altus TFI

WSE-listed fund manager Altus TFI will not be merging with Esaliens TFI after the latter withdrew from the plan. According to Esaliens, its shareholders would not approve such decision given the current situation, Altus said in a market filing. Both companies signed a preliminary deal back in June w...

Locked content TCL opens R&D center in Warsaw

Chinese TV manufacturer TCL has opened its biggest, outside China, R&D center in Warsaw. The TCL Research Europe office will hire some 100 specialists where they will be working on AI solutions. TCL will cooperate with the University of Warsaw and both sides signed a letter of intent to exchange...

Locked content Comarch with PLN 10.5 mln Q2 net profit

WSE-listed IT firm Comarch had PLN 10.54 million net profit in Q2, above the market expectations for PLN 9.2 million and 21.6 percent growth y/y. EBIT stood at PLN 34.4 million, up by 255.3 percent, while revenues grew by 32 percent y/y to PLN 332 million. “In the second quarter of 2018, the group r...

Locked content Leszek Czarnecki to buy 15% in Idea Getin Leasing for PLN 75 mln

WSE-listed lender Idea Bank will 15 percent stake in Idea Getin Leasing subsidiary to its majority shareholder Leszek Czarnecki for PLN 75 million in hopes to boost its Q3 standalone results by PLN 73.7 million and meet the regulatory capital criteria. After the transaction, Idea Bank will retain th...

Locked content Altus: GetBack arrests won’t affect our operations

After two former executives of the WSE-listed fund manager Altus TFI were arrested in connection with the troubled WSE-listed debt collector GetBack, the company said that it won’t affect its operations “a bit.” “We would like to assure our investors, clients, and contractors that all processes and ...

Locked content Poland to expand KNF authority

Poland’s government wants to expand competencies of the Financial Supervision Authority KNF by, among other things, expanding its board with representatives from PM and banking guarantee fund BFG. The draft bill will be discussed at the upcoming cabinet sitting scheduled for Tuesday. The board will ...

Locked content Deputy PM: Poland might ignore ECJ ruling on justice reform

According to Deputy PM Jarosław Gowin if the European Court of Justice rules against the Polish government’s attempt to overhaul judiciary, Warsaw “will probably have no choice and ignore the ruling of the [court] as contrary to the Lisbon treaty and the whole spirit of European integration.” On Mon...

Locked content Ten Square Games with PLN 12.5 mln H1 net profit

WSE-listed video game developer Ten Square Games had a PLN 12.53 million net profit in H1, up from PLN 2.98 million profit a year earlier, the company said. “The increase in cash flows from operating activities (+ 332%) is a direct translation of good financial results, The Group’s investment ...

Locked content Indata declared bankrupt

Warsaw District Court has declared the WSE-listed IT company Indata bankrupt. The creditors now have 30 days to submit their claims (if they were not disclosed in the proper registry). Among the company’s debt are two series of bonds issued late last year worth PLN 1 million each. Indata is a holdin...

Locked content Domika Kulczyk launches tender for remaining stake in Polenergia

The majority shareholder of WSE-listed renewables’ firm Polenergia, Dominika Kulczyk launched a tender offer for the remaining 22.63 million shares (49.8 percent stake) at PLN 20.5 apiece. Kulczyk, who controls 50.2 percent of the company plans to delist the company from the Warsaw Stock Exchange. S...