PZU said to be considering Ukrainian insurance takeover

It currently owns four subsidies in Lithuania that control 15% of the country's market. According to Puls Biznesu, PZU has already found a potential takeover target in Ukraine and now it is only waiting for permission from the Ukrainian market supervisory office. The name of the entity remains confidential. "I neither confirm nor deny this. Our plans of expanding to that market should be revealed before the end of the year," said PZU spokesman Tomasz Fill. The insurance giant's strategic managing director Mirosław Kowalski claims that the Ukrainian investment will be more expensive than PZU's $20 million Lithuanian venture. (Puls Biznesu, pp. 1, 5) M.M.