Elektrim Kable shares up amidst rumors of future sale

The price of Elektrim Kable (EK) shares has been increasing in the past week, shooting up as much as 11.5% last Thursday from its Wednesday close. Analysts explain that this mini-boom is the result of unconfirmed rumors that a strategic investor is close to entering EK. Elektrim spokeswoman Ewa Bojar announced that Elektrim is ready to obtain a strategic investor for EK, but added that no decisions have been made that would change the company's current shareholders' list. Elektrim owns 70.49% of EK at the moment. According to Pawel Puchalski, an analyst at RCI Poland, the current speculations will have a big influence on EK's short-term rates. The restructuring of EK has overall had a positive impact on the company's value; RCI estimates it is worth zl.800 million. In Puchalski's opinion, Elektrim will sell EK because that would be consonant with the holding's strategy. He thinks that the new EK management, changed in September of last year as a part of the restructuring program, is more pliable to Elektrim's suggestions, which will ultimately make the sale of EK easier. (Prawo i Gospodarka, p.12) A.D.