Treasury Minister hesitant to give Eureko control of PZU

Treasury Minister Wieslaw Kaczmarek does not want to extend Eureko's exclusi ve rights to purchase an additional 21% of state-controlled insurer Powszech ny Zaklad Ubezpieczen (PZU). Eureko currently owns a 20% stake in the concer n. In an interview with Reuters, Minister Kaczmarek stated "As far as I reme mber, one of the main declarations in the offer of November 1999 was that Eu reko was not going to obtain a controlling stake in PZU. The agreement from October this year would give the majority stake to Eureko, contradicting Eur eko's initial declarations." Eureko refused official comment on the minister 's statement. However, an anonymous representative of the consortium told Ga zeta Wyborcza, "It is amazing that the minister now recalls the initial offe r made four years ago. The settlements made at that time were made in a comp letely different context, and the situation around PZU has changed since 199 9. Moreover, it is difficult to say whether the offer will be cancelled beca use October's agreement does not expire at the end of this year." (Gazeta Wy borcza, p. 24, Rzeczpospolita, p. B9) P.W.