In Brief: Telefonia Dialog; Tel-Energo; World Bank loan; Q1 car sales

Telefonia Dialog, which is 100% controlled by copper conglomerate KGHM, generated zł. 94.9 million in revenues in the first quarter, and zł. 7.7 million in operational profit. (Rzeczpospolita, May 17-18, p. B2) ... On Friday, Tel-Energo completed the takeover process of Telbank. Although the contract for the purchase of a 74% stake of Telbank from the National Bank of Poland was signed in December both parties waited for final permission of Consumer and Competition Regulation Office (UOKiK). (Gazeta Wyborcza, May 17-18, p. 27; Parkiet, May 17-19, p 4) ...Within two to three years, Poland is likely to receive a EUR 1.5 billion loan from the World Bank for selected infrastructure and energy sector projects. However, much will depend on the talks with the government as well as its evaluation of the projects. (Puls Biznesu, p. 5) ... Some 87,300 cars have been produced in the country during the first quarter, which is by over 30% less than last year, car market monitoring company Samar announced. At the same time, more than 81% of total car production (71,200 cars) was exported. (Rzeczpospolita, p. B1) A.Z.