In Brief: EBRD and PKO BP; TPSA liabilities; Elektrim proposals rejected

The European Bank for Reconstruction and Development (EBRD) has agreed to add extra capital to PKO BP. EBRD deputy president Hanna Gronkiewicz-Waltz said that the bank is willing to invest in PKO BP's shares, but it is awaiting the government's concept on how to finance and privatize the bank. EBRD is also negotiating taking a stake in Bank Gospodarki Zywnosciowej (BGZ) (Puls Biznesu, p. 6) ...Telekomunikacja Polska (TPSA) intends to negotiate an agreement for exceeding the required financial indicators included in the credit agreements with Deutsche Bank and the European Investment Bank. TPSA's liabilities to these banks amounted to zl. 2.6 billion. (Puls Biznesu, p. 4) ... The management board of Elektrim and bondholders have failed to reach an agreement on restructuring its debts. Elektrim wanted to write-off 15% of its debts and get an extension on repayments until the end of 2007. (Reuters) A.Z.