In Brief: Softbank; PKP; PGNiG cancels EUR 500 million share issue

Warsaw based IT integrator Softbank yesterday officially confirmed its plans to purchase a stake of between 20-23% in its market competitor Comp Rzeszów. The acquisition will mean a huge success for Prokom which controls Softbank and which was looking forward to the take over for several past months. The acquisition will also strengthen Prokom's position as the leader in the sector's consolidation. (Puls Biznesu, p. 5) ... Polish State Railways (PKP) has turned to the state with a request to be granted government guarantees to cover its liabilities resulting from a bond issue worth zł.1 billion. The funds are to be used to finance its regional subsidiaries (zł.300 million), pay back loans (zł.590 million) and repay exploitation and investment liabilities. (Puls Biznesu, p. 4) ... The market was flooded with information yesterday concerning Polish Oil and Gas' (PGNiG) announcement to withdraw from its plans to issue shares worth between EUR300-500 million before its bourse debut scheduled for next year. Such a move was planned earlier to decrease the company's debts which currently stand at zł.5.5 billion. (Puls Biznesu, p. 7) A.K.