Temporary stalemate in the struggle for control of Elektrim

Elektrim's board of directors has refrained from making the expected move to replace top managers as disputes between shareholders forced the board to postpone any resolutions. The decision about the future of CEO Wojciech Janczyk may emerge after the April 4 meeting and the possible confrontation between existing shareholders and media mogul Zbigniew Solorz, who recently accumulated a minority stake in the company. In related news, French concern Vivendi informed it had taken over Merging Markets Development (MMD) which holds 5% in Elektrim from Societe Generale, thus increasing its stake in the company to 15%. (Parkiet, March 8-10, p. 3) J.K.