Prokom to buy stake in Softbank, analyst predict merger

There is no doubt that the future systems integrator Prokom S.A. purchase of 9.99% of Softbank S.A. stock is the first step towards a merger say analysts. The cooperation between the two companies should accelerate consolidation of the information technology market. "The joining of Softbank and Prokom would result in the creation of the biggest company in the region,'' said Jacek Radziwilski from Deutsche Bank. Prokom will buy the stake from Aleksander Lesz paying zl. 128 million. "It is indeed a very reasonable price for the Prokom shareholders. But the question is why did Lesz decide to sell his stake at this price," said Przemyslaw Rodecki from Nomura. The transaction price is 7.8% lower than the share fixing price on the Warsaw Stock Exchange (WSE) on Friday. The companies will announce cooperation plans in two weeks. (Parkiet, page 1, Reuters)