In Brief: Paged-Yawal merger; TPSA's future plans; Wodny Swiat's new park

Minor shareholders of wood processing company Paged protested against terms of the company's merger with aluminum producer Yawal, which took place at the general shareholders' meeting on Saturday. State Forests (LP), which holds a 12% stake in Paged, considered the exchange ratio on the shares -- 3.4 shares of Paged for one Yawal share -- unacceptable, while the Individual Investors' Association announced it will take the decision to court. (Gazeta Wyborcza, p. 25) ... Telecom giant Telekomunikacja Polska (TPSA) has announced its long awaited strategy. It plans to reduce staff, sell capital not linked with the its core operations, increase revenues from services to businesses by 22% and start charging telephone subscribers proportionally to the length of a call. TPSA also hopes that its cellular service division, Idea, will increase its market share from the current 27.5% to 33%. (Prawo i Gospodarka, p. 1)... Wodny Swiat of Sosnowiec plans to construct a new aquapark for zl. 60.5 to zl. 68.5 million. The construction is to be completed around April or May 2003. (Puls Biznesu, p. 10) M.K.