Internet Portal Wirtualna Polska may file for bankruptcy

Due to this decision, the management of WP also discussed the possibility of filing for bankruptcy. The final decision is to be made on Friday. The only event which could still save the company would be a loan, which was promised earlier by TP Internet (TPI), which is controlled by TPSA and holds 80% of the shares in WP. However, such aid has also been proposed by minority shareholders. "TPI does not reply to such propositions. We have the money and desire to finance WP, however, TPSA blocks our moves," said Jarosław Golacik, the representative of minority shareholders. Piotr Michalski, TPI's spokesperson, claims that the difficult situation of the company is to be blamed on the minority shareholders. The minority shareholders maintain that the reason why TPI wanted to increase WP's capital was that the portal could then pay back a loan to TPI. (Puls Biznesu, p. 3; Parkiet, p. 5) A.K.