Meeting will decide PKP employees' fund manager
The management board of Polish State Railways (PKP) will meet next week with
Transportation Minister Jerzy Widzyk to choose who will create and manage
its Employees' Assets Fund (FWP). Analysts say the most likely Investment
Fund Company (TFI) to win the contract is Bank Handlowy's TFI. Other
companies that have submitted offers are PKO-Credit Suisse, Invesco TFI and
Warta TFI. Already 400,000 current and former PKP employees have stated
their intention to sign up to the FWP. Starting in 2002, the TFI that wins
the contract can expect to receive 15% of funds generated from the sale of
PKP assets, including spin-off companies and property. According to
president of PKP Krzysztof Celinski, around zl.9 billion will ultimately be
transferred to the FWP. (Puls Biznesu, p. 3) K.K.
