In brief: TP SA Globalstar; Nowe Miasto Krakow; BPH bonds; Adtranz

Telekomunikacja Polska S.A. (TP SA) and TE.S.A.M., a joint venture of France Telecom and Alcatel, have signed a letter of intent concerning the latter's providing Globalstar satellite connections in Poland. TP SA would be the licensed operator of the Globalstar system in Poland while its mobile subsidiary, PTK Centertel, would be the provider of service to clients. (Rzeczpospolita, Nov. 4-5, p.B2)... Next fall, American Tishman Speyer Properties (TSP) will construct the first phase of the $300 million retail and office complex in Krakow. The second phase of Nowe Miasto, as the complex would be called, is scheduled to begin after 2003 and could cost up to $450 million. (Rzeczpospolita, Nov. 4-5, p. B2)... Bank Przemyslowo-Handlowy(BPH) is to issue zl. 3 billion worth of bonds. The issuance would not be guaranteed and would be denominated in securities of zl. 1,000 each. (Rzeczpospolita, Nov. 4-5, p.B3)... Railway engineering group Adtranz Polska is to begin negotiations with National Investment Fund (NIF) Foksal on the prospects of taking controlling stakes in railcar repairer ZNTK Minsk Mazowiecki. Adtranz's plans could sideline the aspirations of another German concern, Siemens, which has ZNTK on the lineup of its acquisition targets, part of its ambitious plan for capital injection into the Polish transportation sector. (Puls Biznes, pp. 1, 5).