Israeli Teva plays down rumors of local drug firm buy-ups

The company has so far placed a letter of intent concerning the purchase of a 30% stake in drugs producer Jelfa from the State Treasury. Teva is apparently interested in investing in large and middle-sized firms in this country. However, Dorit Meltzer, the Israeli concern's director of investor relations, said, "These are all rumors, on which we will not comment." Even if Teva managed to purchase a 30% stake in Jelfa, it would have to make an outstanding offer to the remaining shareholders of the Jelenia Góra-based company to take over full control, and at present its shareholders seem more interested in a merger with Polfa Kutno. "If we wanted to share any information, we would make a press release," Meltzer added. (Parkiet, p. 3) M.M.