Pioneer to sell its products in BPH?

This might be the first result of the merger of Pekao and Bank BPH. "I neither confirm nor deny this," said Ewa Francuz, PR director at Pioneer. Pekao Investment Management. Jacek Balcer, a BPH spokesman, denied this allegation. According to sources, the first transactions with Pioneer products could be made after the summer holidays. So far the main source of acquiring assets for Pioneer has been Pekao, but for some time the fund has been signalling that the potential of the bank with this regard is slowly running out. "The entrance of Pioneer funds to BPH would be a surprising solution for the minority shareholders of the bank," said Marcin Materna, an analyst with Millennium bank. In his opinion such a solution would cause suspicion of BPH's drainage. (Parkiet, pp. 1, 10) M.M.