Question marks hang over Bank Millennium's PZU shares

According to Robert Sobieraj, BDM PKO BP analyst, the fall might be due to the plans of creating a Sejm commission to investigate the privatization of PZU. It is possible that during the course of the investigation issues might arise which would have a negative influence on the bank's image. However, Andrzej Powierza from DI BRE Bank, claims that this is only an excuse to sell the company's shares. The real reason might be the reaction to earlier speculation concerning the increase in the bank's standing, which was gradually increasing before the information about the privatization of PZU and then began to fall. The decrease may also be due to the latest changes in the bank's ownership. Right after Christmas, Eureko, which was preparing to buy PZU shares, sold 18.93% of Bank Millennium's shares. However, the deal to buy the PZU stake, worth zł.514.4 million, appears to have been channeled through companies registered in tax heavens. (Parkiet, p. 2) A.F.