In Brief: Citibank buys Handlowy; KNB; Prokom bonds; Gravity; BWR

Citibank has increased its stake in Bank Handlowy from 10% to 56%, thanks to a well-organized public bid exercise. It is to ask for another such bid in mid-June. (Rzeczpospolita, page B9) ... The Banking Supervisory Commission (KNB) has cleared banks Nordenbanken AB to own 50% of Bank Komunalny, Den Danske to own 75% of Polso Kanadyjskie Bank, and insurer Eureko to own 20% of BIG Bank Gdanski. (Rzeczpospolita, page B9) ... IT giant Prokom is to issue bonds worth zl.100 million in an effort to raise revenue for R&D and internet acquisitions. (Rzeczpospolita, page B9) ... IT firm Gravity has become an application service provider (ASP) in the form of outsourcing for Polish clients. (Parkiet, page 5) ... The provisional board at Bank Wspolpracy Regionalny (BWR) has been replaced by a new board under Friedhelm Herb as president. (Parkiet, page 8) S.M.