In Brief: Netia Tel-Energo; Kredyt Bank; Era failure; Oil merger PKO BP-PZU

Netia has submitted a binding offer for the purchase of a stake in the Tel-Energo group. According to unofficial information two operators have been shortlisted, Energis and Netia. (www.onet.pl) ... The Kredyt Bank Group has posted a third quarter net loss of zł. 76.5 million as compared to zł. 67.5 million loss for the same period last year. The group now has a 2003 nine month loss amounting to zł. 335.4 million. (Puls Biznesu, p. 6) ... On Friday November 31, users of mobile phone network Era GSM had problems with sending text messages (SMS) as well as problems with voice calls. Apparently the problem was due to the operator changing its software. (Rzeczpospolita, p. B3) ... On Friday intergovernmental negotiations concerning the merger of oil concerns PKN Orlen and Hungarian MOL begun, but they were somewhat weakened by growing accusations against the president of PKN Orlen. (Puls Biznesu, p. 11) ... During a debate organized by Newsweek, Finance Minister Andrzej Raczko said that he is against the merger of PKO BP and PZU if it hinders the former's privatization process. (Puls Biznesu, p. 7) A.Z./M.M.