BRE Bank, Vivendi agree on new Elektrim management
BRE Bank, which together with allied investors controls over 20% of El
ektrim, is looking to change the telecom and energy group's supervisory and
management boards as soon as possible. BRE Bank president Wojciech Kostrzewa
told the Polish Press Agency (PAP) on Friday that the bank would seek to end
the uncertainty surrounding Elektrim, and reach a settlement between the
company and its bondholders. According to unofficial sources quoted by PAP,
BRE Bank has already reached agreement on Elektrim's management changes with
Vivendi, which holds slightly over 10% of the company. Some sources claim
that under the deal the French media group would acquire an additional 49%
stake in Elektrim Telekomunikacja (ET), giving Vivendi 100% control of
Elektrim's most valued asset. (Gazeta Wyborcza, Jan. 19-20, p. 29) T.J.
