PAP to take over publisher prior to privatization

The Polish Press Agency (PAP) is going to take over the Scientific and Technical Printing House (DNT) in order to increase it competitiveness. Both entities are controlled by the Treasury Ministry and are in the process of being restructured. "The merger process should be completed on February 15 2005," declared Piotr Rostkowski from the Treasury Ministry's public relations department. The merger may also attract potential investors to PAP, which is being prepared for privatization. "The value of the company will increase," said Rostkowski. The book value of a share in PAP has been estimated at zł.10.52, and DNT's at zł.2.05. It is still not exactly clear how PAP's privatization will look like, but the Treasury intends to keep control over the company. (Parkiet, p. 3) A.F.