Agora and AMS argue that each party is not keeping its side of the deal

Publicly listed Agora, the publisher of Gazeta Wyborcza, yesterday unexpectedly announced that it may renegotiate the purchase terms of outdoor advertising company Art Marketing Syndicate (AMS), and is even considering withdrawing from the transaction. Agora says this is due to the failure of AMS to fulfill its side of the transaction. Agora was supposed to take control over AMS management and members of the supervisory board were to hand in their resignations. Additionally Agora demanded that AMS directors file a report on the current state of the company. "Either Agora will give up its demands and the deal will be continued, or it withdraws from the transaction, alternatively the terms of the deal will be renegotiated," said Agora's spokeswoman Anna Borys-Karwacka. BB Investment, AMS majority shareholder, claims it wants to come to terms with Agora. At the same time AMS declared that in accordance with the terms of the transaction AMS's management had been changed and members of the supervisory board had resigned, however the resignations only come into effect if Agora announces a call to buy all AMS shares. (Puls Biznesu, p. 4) A.Z.