Eureko's PZU conflict: Socha comes up with compromise

It seems that there is finally a real of solving the dragging dispute between the government and Eureko with regard to the ownership of insurance giant PZU. Instead of Eureko trying to buy a further 21% of PZU, which had led to the current impasse, a compromise plan devised by Treasury Minister Jacek Socha would see the Dutch firm only buying half of the shares in question, with the other half being bought by the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation. "We know what the relations are between PZU's main shareholders. The EBRD is ready to help solve this argument," said Axel Reiser, EBRD's spokesperson. Should the plan become a reality, PZU would have two options: either go public or buy the shares back in five years time, with the second option seen as being more preferable to Eureko. (Puls Biznesu, p. 3) D.W.