TP SA employee shares listed on Warsaw Stock Exchange

Telekomunikacja Polska (TP SA) employees' shares will be listed on the Warsaw Stock Exchange (WSE) today for the first time. The Securities and Stock Exchange Commission (KPWiG) has allowed about 210 million shares and at present, according to TP SA data, more than 160 million shares are being listed on individual brokerage accounts. According to analysts, the shares will be bought mainly by foreign investors, among them probably France Telecom. Meanwhile, in a related development, according to an unofficial Supreme Board of Inspection (NIK) report, the cost of the first TP SA privatization process was overestimated by more than zl 34 million. According to Rzeczpospolita, NIK says that corruption and manipulation of tenders were involved (Prawo i Gospodarka, p 13, Rzeczpospolita, p.A1) P.J.