Kredyt Inkaso breaks talks with Best

Board of managers at debt collector Kredyt Inkaso has broken off merger negotiations with the firm's competitor, Best, Puls Biznesu daily reported. Best said that Kredyt Inkaso's just wanted to acquire a better position in the talks and it did not mean that the merger will not be carried out. In late November, the Polish anti-monopoly watchdog UOKiK approved the merger of the two debt collectors, Best and Kredyt Inkaso. Two months earlier, Best and Kredyt Inkaso had reached an agreement in line with which, the merger of the two companies would be carried out by the acquisition of Kredyt Inkaso by Best. According to the contract, all of Kredyt Inkaso and Gamex's assets will be transferred to Best. The aim of the merger is to "create a strong Polish group in the European market of debt collecting." Best has directly and indirectly (through Gamex) nearly a 33 percent stake in Kredyt Inkaso.