Elektrim president determined to keep energy interest

Elektrim president Jacek Krawczyk believes the company will reach a settleme nt with its stockholders and that after selling its stake in Elektrim Teleko munikacja (ET), it will be able to retain its energy assets and continue pur suing its strategy in that sector. In an interview with reporters, Krawczyk said that it would be unwise to insist on selling the 51% stake in Elektrim Telekomunikacja for euro 600 million, which is what analysts claim it is wor th. In his opinion accepting the euro 400 million reportedly offered by BRE Bank and Eastbridge is a better option than receivership, which is inevitabl e if a settlement with creditors is not reached. Krawczyk's scenario assumes Elektrim's creditors will be paid off using funds primarily obtained from th e sale of ET, and afterwards the company's core area of activity will be ene rgy. "I cannot imagine Elektrim's future if the energy assets were to be sol d," he said. (Rzeczpospolita, p. B2; Prawo i Gospodarka, p. 7) T.J.