In Brief: Citibank offer; Zasada off WSE; Cadbury Wedel pres; Neoplan

Citibank has announced a public tender offer for 56% of shares in Bank Handlowy, priced at zl. 70 per share. Handlowy was yesterday listed at zl. 63.8 on the Warsaw Stock Exchange (WSE). Citibank presently owns 9.99% of Handlowy. (Parkiet, page 1) ... Yesterday, shares of Zasada S.A., the only automotive company on WSE, were listed for the last time. For the fourth day in a row the stock dropped by the maximum amount, ending its bourse history at zl. 1.46, or 85.4% below the 1995 issue price. (Parkiet, page 5, Gazeta Wyborcza, page 22) ... Simon Baldry yesterday took over the post of president of confectionery Cadbury Wedel. (Puls Biznesu, page 5) ... Bus manufacturer Neoplan Polska will spend an estimated zl. 50 million on developing its production facility in Bolechow near Poznan. As a result, output is expected to rise from 300 buses per year to 1200. (Puls Biznesu, page 5) T.J.