Multimedia Polska puts stock market launch back to 2006

The company was created through merging Multimedia with TeleNet. As part of the operational integration the company is planning to lay off 100 employees by the end of the year. After that, the two firms will formally start operating as one entity. The exact date of the merger depends on the EU Commission, which has to decide whether the cancellation of the operators' concession liabilities in Poland was done in accordance with the EU regulations concerning competition. "We want to be well prepared for the debut. That is why we want to settle all the formal and legal matters in advance," said Wojciech Kamieniecki, deputy president and general director at Multimedia Polska. The company has still not chosen a broker to be its adviser for the public offering. Also, the exact sum of money the firm expects to receive has been kept a secret. (Parkiet, Oct. 1-2, p. 4) A.F.