MTS Group ready to take over a 25% stake in CeTO

The Italian company runs a pan-European T-bills market, which is also the main field of expertise of CeTO. In Q4 2003, both companies conducted due diligence on each other, after which MTS evaluated CeTO. The Italian company is ready to take over 20%-25% of the share capital in the Polish firm. "It is possible that in April corporate issues will be resolved and the CeTO general shareholders meeting will accept the new shareholder," said company president Janusz Czarzasty. The Italians can purchase either new shares or buy back existing stock from the Warsaw bourse. "We prefer the first option," said Czarzasty. After resolving corporate issues, it will be possible for CeTO to use the Telematico platform, which could be phased in from May. (Parkiet, p. 3) M.M.