In Brief: Michelin; NSK-Iskra lay-offs; Krakow Holiday Inn; Naftobazy

According to Puls Biznesu, French Michelin will not increase their offer price for the buy-out bid of Stomil Olsztyn shares. They believe that the zl. 24.50 per share includes a bonus in relation to the book value and is a reasonable offer for minority shareholders. (Puls Biznesu, p.10) ... Kielce-based bearings producer NSK-Iskra plans to lay off 400 out of its 2000 employees. (Rzeczpospolita, B2) ... Global Hotels Development Group Poland, which deals with construction and management of Holiday Inn hotels, opened a new Holiday Inn in Krakow worth more than zl. 84 million. (Puls Biznesu, p.13); Both German Oiltanking and Dutch Vopak have announced their interest in the privatization of the Naftobazy fuel storage company. (Puls Biznesu, p.8) P.J.