In brief: Krosno in London; Elektrim in denial; another PZU meeting

Krosno glass mill has established a subsidiary Krosno glass. The new company, based in London, is worth 20,000 pounds and will be Krosno's agent on the London market. So far Krosno's biggest foreign market destination has been the U.S.,where it sells 30% of its total production. (Prawo i Gospodarka, p. 17). Elektrim has denied rumors that it was going to sell its stake in Polska Telefonia Cyfrowa (PTC) telecom operator to Deutsche Telecom. It also said no hostile take over is planned if DT strikes any deal behind Elektrim's back with Vivendi, PTC's other investor. (Gazeta Wyborcza, p.25). Today shareholders of Powszechny Zaklad Ubezpieczen (PZU ), the country's largest insurer, will decide on reshuffling the company's board of directors. The changes are aimed at strengthening the position of Grzegorz Wieczerzak, the head of PZU rumored to have lost his seat, as well as at ousting one of the smaller shareholders, Bank Handlowy, from the company. (Rzeczpospolita, p.B1) J.K.