In Brief: LOT freight services; Rafineria Gdanska, Rotch, Lukoil; 4Media

LOT Polish Airlines has announced that over the seven months to the end of July, the losses from its freight services dropped from zl. 274.3 million to zl. 68.2 million. The management also concedes, however, that this result is much better than planned. (Parkiet, p. 6) ... Treasury Minister Wieslaw Kaczmarek deems it possible that the decision on the sale of a 75% stake of Rafineria Gdanska will be taken within a few weeks. At the end of July, Nafta Polska, responsible for the privatization of the fuels sector, positively evaluated the purchase offer submitted by the consortium of Rotch Energy and Lukoil. (Prawo i Gospodarka, p. 4) ... 4Media has initiated preparation of a new issue of 10 million shares to target the firm's management as well as its employees. At the same time, the issue will be directed at 4Media's creditors which could in turn lead to a considerable decrease of the company's liabilities. (Parkiet, p. 4) A.Z.