Polsat pushes Vivendi
Private TV giant Polsat will continue talks on buying the Polish mobile telephony assets of French Vivendi, despite their failure to reach an agreement last week, according to sources. Polsat signed a letter of intent with Vivendi last month to buy 49% of Elektrim Telekomunikacja, a subsidiary of the ailing Elektrim conglomerate, which controls Polska Telefonia Cyfrowa, central and eastern Europe's largest mobile operator. Analysts doubt whether Polsat has the means to acquire what is estimated to be a €2 billion firm. Despite the deadline expiration, negotiations on the purchase will go on, insiders say.
Russians opt out
Russian steel giant Severstal said it was not considering taking part in a privatisation bid for Polskie Huty Stali, which produces nearly 70% of the nation's steel. The treasury ministry previously said that Severstal would be allowed to place an initial offer for PHS, although it had not been invited to place the bid.
Singapore sling
During his visit to Singapore, Prime Minister Leszek Miller said the current level of trade between the two nations did not reflect their full economic potentials. Miller said that it was in our interest to be involved with an internationally acknowledged financial and trade centre like Singapore and invited local banks and insurers to examine the Polish market. In return, he said, Poland could export processed industrial products, food products unaffected by genetic modification, and furniture to Singapore.
Russians opt out
Russian steel giant Severstal said it was not considering taking part in a privatisation bid for Polskie Huty Stali, which produces nearly 70% of the nation's steel. The treasury ministry previously said that Severstal would be allowed to place an initial offer for PHS, although it had not been invited to place the bid.
Singapore sling
During his visit to Singapore, Prime Minister Leszek Miller said the current level of trade between the two nations did not reflect their full economic potentials. Miller said that it was in our interest to be involved with an internationally acknowledged financial and trade centre like Singapore and invited local banks and insurers to examine the Polish market. In return, he said, Poland could export processed industrial products, food products unaffected by genetic modification, and furniture to Singapore.
