PKO BP-PZU merger - fact or myth?

There are growing rumors that bank PKO BP will become the majority sharehol der in PZU. If true, this would mean the largest financial conglomerate in Eastern Europe would be created and may subsequently be partly privatized on the Warsaw Stock Exchange (WSE). According to unofficial information from P arkiet, PKO BP intends to buy a 30% stake in PZU from the Eureko-Millennium consortium. However, at present, this is only a scenario as executing this idea will not be easy. "We do not want to sell our stake in PZU," said Eure ko's spokeswoman Lorrie Morgan. She confirmed that in September, Eureko's r epresentatives are scheduled to meet Treasury Minister Piotr Czyżewski, but declined to disclose what issues the sides will touch on. PKO BP also did n ot want to comment on the speculation. (Parkiet, p. 1) A.Z.