Prokom presents its plans for its Czech acquisition

Before the end of 2003, Czech IT company PVT, which was taken over by Prokom and its financial partners last month, will be divided into two entities. The decision was announced on Wednesday during a press conference held by the new owners. According to their plans, PVT's current president, Jiri Fabian, will retain his position, while Marian Pijarski and Andre Spark would represent Prokom on the five seat management board. Moreover, restructuring of the PVT capital group is to go ahead. The first phase entails dividing the company into a core and non-core businesses and dividing up the existing assets into separate firms. Then, Prokom will manage the IT assets of PVT, while the remaining activities would be supervised by the J&T financial group, as well as Dutch fund Middle Europe Investments. Prokom's investment in PVT is to help strengthen both companies before next year's EU accession. (Rzeczpospolita, p. B5) M.M.