Instant messenger Gadu-Gadu talking up success, searching for investors

Its net profit for 2003 reached zł.644,000, with the revenues of zł.2 million. Projections for 2004 had predicted that 2003's results would increase by 30%. According to GG's president Krzysztof Szalwa, the firm has managed to meet the prognosis. Meanwhile Warsaw Equity Holding, which is GG's majority shareholder, suspended talks with investors willing to buy its stake in the company because the offers were too low. "We still want to sell Gadu-Gadu because this is the financial investor's strategy. But at the moment we are not conducting any talks because none of the offers met all of our criteria, among which the price is most important," said Szalwa. According to unofficial sources, those interested in buying the internet communicator include IT companies as well as investment funds. So far, offers for Gadu-Gadu have not exceeded zł.30 million. (Parkiet, p. 6) A.F.