In Brief: TVN floatation; Unemployment down; Polska Telefonia Cyfrowa loan

The National Radio and Television Council (KRRiTV) has approved the floatation of up to 49% of TVN, one of Poland's largest private television stations. The value of the shares is estimated at $100-150 million. (Parkiet, p. 1) ... Deputy Economy Minister Piotr Kulpa announced yesterday that unemployment has fallen by 0.2% to reach 19.1%. The number of people who found work last month was 36,000, bringing the unemployment total down to nearly 3 million. According to the Economy Ministry unemployment should not exceed 19% at the end of 2004. (Parkiet, p. 1) ... The Bloomberg service quoted the International Financing Review as the source for information about a EUR 550 million loan from a consortium of 13 banks made to Polska Telefonia Cyfrowa, the owner of mobile phone operator Era. The company refused to state what the loan was being earmarked for but Parkiet believes the money will be spent on bonds. (Parkiet, p. 3) M.M.