PKO BP aims to gain control of PKO/Credit Suisse

The daily's sources claim that the bank is interested in buying a 25% stake from Credit Suisse Asset Management (CSAM). At present, PKO BP and CSAM own 50% of the company's shares each. Analysts believe that such an arrangement makes it impossible to manage the firm effectively. At the end of September this year the TFI managed assets worth zł.3.9 billion and had a 7.3% market share, as compared to 20% in June 2003. The cure for PKO/Credit Suisse TFI's problems should be the changes in ownership. PKO BP's spokesperson, Marek Kłuciński, confirmed that the negotiations between PKO BP and CSAM have been going on for the past few months, but he refused to provide any more details. According to Parkiet's estimation, the 25% stake could be worth around zł.40 million. (Parkiet, p. 1) A.F.