PZU floatation has been postponed yet again

The date on which domestic insurer PZU's shares are to be issued, has been postponed again. The deputy treasury minister, Barbara Misterska-Dragan, has admitted that, due to the arbitration dispute with Eureko, the debut will most likely occur in 2005, and not 2004, as had previously been stated. "It is possible that 2005 will be the date of the public offer of PZU's shares. Due to the arbitration dispute now taking place, it would be unwise to file a public offer concerning a company that is at risk," said Misterska-Dragan in the Sejm. According to her, the dispute will be settled by 2004. Me anwhile, in a Swedish court, Eureko is demanding the prompt floatation of PZU's shares. From the privatization agreement, it transpires that PZU's shares were to be floated in 2001. "We wish to buy a further 21% that is guaranteed by the agreement signed by the last government. However, the current cabinet won't accept that," stated Eureko's vice-president. (Puls Biznesu, p. 6) A.C.