Conflict between shareholders at WP set to continue

No agreement between the shareholders of the second biggest Internet portal Witualna Polska is expected at today's extraordinary shareholders meeting. Minority shareholders are trying to modify the plan of a zł. 50 million share issue pursued by TP Internet (TPI) which holds a 55% stake in the portal. The issue, initially designed to repay a debt to TPI, should in their view, be carried out in five installments and be devoted to the further development of WP, rather than repaying debts to the dominant shareholder. As TPI is standing firm, it is very likely that the conflict will end up in the courts, with minority shareholders trying to claim that the decision acts against the interest of the company. (Puls Biznesu, p. 6, Gazeta Wyborcza, Gospodarka Supplement, pp. 10, 11) M.K.