Acquisition of Spin strengthens Prokom's TPSA links

Prokom Software has announced the takeover of billing systems provider Spin. Under an agreement with previous owner Nihonswi of Switzerland, Prokom is to pay some zl.135 million for a 51.11% stake in the Katowice-based company. Th e transaction could prove highly lucrative in the long term for Prokom, in v iew of Spin's partnership with telecoms giant Telekomunikacja Polska (TPSA). However, investors view the price paid for the stake as too high, and Prokom 's shares subsequently fell 5.8%. Analysts suggest that the high price and t he relative ease of the negotiations might be explained by the business link s between Nihonswi and Prokom president Ryszard Krauze. (Prawo i Gospodarka, p. 11; Puls Biznesu, p. 4) M.K.