PTE Dom ditches deal with Axa PTE

"We began the negotiations over two years ago," revealed the president of PTE Dom, Marek Jandzinski. "We have no confidence that the acquisition would take place in the near future and have taken advantage of a provision allowing the parties to withdraw from the agreement after March 31." This is not the first hiccup for Axa in the Polish market. Earlier the company, which is the second largest insurer in Europe, failed to invest in leading domestic sector competitor PZU, and after that it failed to take over Nationwide. Representatives of Warta, the owner of PTE Dom, said that currently there are no other parties interested in the acquisition, adding that new ways of development of the company are being analyzed. (Puls Biznesu, p. 14) A.K.