Netia changes priorities for organic growth but does not rule out acquisitions

This target was set in 2003. During the presentation of Q4 results yesterday, Netia's president Wojciech Mądalski, announced that the priorities have changed and now, instead of growth through acquisitions, Netia will concentrate on organic growth. Although, the president added, that a good opportunity for a take over of a sector competitor will not be left unanalyzed. These changes are a result of several factors, including the change in the owner, as since recently Netia's main shareholder is the Novator fund from Iceland. Another reason is the decision to enter the mobile phone sector, indirectly through a company called P4. Netia plans to spend the whole of 2006 earnings, which are estimated to amount to zł.230 million, on investments for organic growth. Increased revenues will become visible no earlier than in 2007. (Parkiet, p. 3) A.K.