Treasury, Eureko agree PZU privatization working group

Treasury Minister Wieslaw Kaczmarek and new chief executive of Dutch financial concern Eureko, Arnold Hoevenaars, have agreed to set up a working team to prepare a revised privatization plan for insurance giant PZU. Following a meeting with Hoevenaars yesterday Kaczmarek said, "We agreed to set up a joint working group to prepare a scenario for its further privatization... I would like to settle the issue in January." The deadline passed on December 31 for the sale of an additional 21% stake in PZU to Eureko, a deal that would have given the Dutch company a majority stake in Central Europe's largest insurer. Kaczmarek stated recently that he planned to float 5% to 10% of PZU this year. However, analysts say that for the flotation to be a success the Treasury must first mend ties with PZU's foreign investor. (Puls Biznesu, p. 8; Reuters) P.W.