In Brief: PHF to take over Polfa's; Netia; Tel-Energo and Telbank to merge

The Competition and Consumer Protection Office (UOKiK) has allowed the Polish Pharmaceutical Holding (PHF) to take over Polfa Tarchomin, Warszawa and Pabianice. The joint revenues of PHF and the Polfa's exceed EUR 50 million and their joint share of the market is just under 40%. (Parkiet, p. 4) ... The shareholders of Netia, a publicly listed telecom operator, decided at its general shareholders meeting on Tuesday not to pay out a dividend from the 2003 net profit of zł.42.5 million. Instead the money will be added to the company's reserves. In 2004 Netia plans to post revenues of zł.900 million against zł.700 million in 2003. (Puls Biznesu, p. 8) ... The general shareholders meetings of Tel-Energo and Telbank, companies owned by the National Grid (PSE) agreed on the merger of the two companies. The initial capital of the new entity will amount to zł.576 million. The name and logo of the new operator will be revealed in the next few weeks. (Rzeczpospolita, p. B3) E.B.