Recordati wins 20 percent but Kutno board says it'll quit

According to market analysts, though, the battle for control of the company is not over yet, as US-based Ivax is still awaiting an agreement to announce its own call. Meanwhile, the head of the Office for Competition and Consumer Protection (UOKiK), Cezary Banasiński, has announced that he has begun legal proceedings against the Italian investor in an attempt to ascertain whether antitrust regulations have been broken. "The company [Recordati] failed to submit its intention to concentrate 938,500 shares in Polfa Kutno, which could lead to the acquisition of 49.99% of votes during a general shareholders meeting of [Polfa Kutno]," explained an announcement issued by the UOKiK. Simultaneously, the top management of the domestic drugs producer threatened to resign their posts should the Italians, not the Americans, take over the firm's reins. (Parkiet, p. 5) A.K.