Talks over PZU stalled

Eureko's CEO Arnold Hoevenaars said in an interview for Reuters that talks over the privatisation process of Poland's largest insurer PZU had collapsed. Hoevenaars also said that Eureko, which controls 30% in PZU, was ready to start fighting for its rights in international courts. Eureko had been promised to be allowed to acquire 21% stake in PZU through a public offering in 2001 before the changeover of Polish government. The new government, however, delayed the offer until 2003, and suggested that it would strive for amending the privatisation deal in such a way as to secure more power in the company for itself when PZU goes public. kp,bb COMPANIES AND INDUSTRIES