In Brief: BOS dividend; EconMin impressed with HTS; PKN and Lukoil
In a precedent-setting decision the Warsaw Commercial Court has accepted a
motion by Kredyt Bank to annul a decision of the shareholders' meeting of
Bank Ochrony Srodowiska (BOS), meaning that payout of dividends by BOS will
be halted. (Gazeta Wyborcza, page 22) ... Thanks to the restructuring of the
HTS steel mill it has recorded a net profit of zl. 66.4 million, as compared
with a zl. 297 million loss for the whole of 1999. Economy Minister Janusz
Steinhoff said he is impressed and would support HTS' motion for a
government guarantee of the $174-million loan the mill needs to modernize
its rolling-steel plant. (Gazeta Wyborcza, page 19) ... Polski Koncern
Naftowy (PKN) Orlen's management does not think the Russian oil group Lukoil
will be a good partner for the company. They are responding to a rumor that
Lukoil is acquiring PKN stocks through its subsidiaries. (Parkiet, page 1)
T.J.
