Poczta Polska seeks more capital for a sleek new look

Poczta Polska (PP) is about to launch a new restructuring program and it will be looking for capital to kick off the process. It is possible that the zl. 5 billion they need will come from loans PP will take, or through a zl. 1 billion bond issue. According to the plan, PP would be restructured to form a holding of smaller companies specializing in postal, financial, logistics and internet services. The aim is to improve PP into a brand-new, highly competitive company that will be able to fend off foreign postal services after Poland opens its market to the EU. However, so far PP has refused to comment on the recent developments, claiming it has not reached a decision on how to cover its prospective budget. Nevertheless, it seems the company has already made the first step toward initiating a project to launch the Mutual Insurance Fund (TUW). The newly created body would insure PP assets and sell insurance policies to PP employees and clients. After nine months this year, PP's revenues have reached approximately zl. 4.3 billion with net profits of zl. 139.9 million. (Rzeczpospolita, p.B4) J.K.