Poland - Factors to Watch on July 8

PBG SA w restrukturyzacji w likwidacji

08/07/2013 07:14

Here are news stories, press reports and events to watch which 
may affect Poland's financial markets on Monday. ALL TIMES GMT 
(Poland: GMT + 2 hours): 
     
    NO EURO 
    Poland will not be able to join the euro for possibly 
another decade because the government lacks a sufficient 
majority to approve the changes needed to its constitution, 
Prime Minister Donald Tusk said. ID:nL5N0FC039  
     
    TPSA CEO 
    Maciej Witucki, the chief executive of Poland's No.1 
telecommunications company Telekomunikacja Polska TPSA  TPSA.WA  
will be replaced in the autumn by Bruno Duthoit, business daily 
Puls Biznesu wrote. Witucki has been the head of TPSA from 2006. 
     
    PBG 
    Poland's troubled builder PBG  PBGG.WA  will issue 535 
million shares for its creditors, daily Parkiet wrote, quoting 
sources. PBG, whose debt amounts to almost 3 billion zlotys, 
would like to sign financial and restructuring agreements by the 
end of August. 
     
    BUDGET 
    The finance ministry will announce spending cuts worth 10 
billion zlotys in the 2013 budget, daily Dziennik Gazeta Prawna 
wrote, adding that the official announcement may come later on 
Monday. The finance minister is also expected to admit that this 
year's budget deficit will need to be higher than initially 
planned. 
     
    KGHM 
    Polish copper miner KGHM  KGH.WA  will search for new 
commodities as part of its new strategy and try to explore gas 
that can be found between copper layers in Poland, daily 
Dziennik Gazeta Prawna wrote. The company, in addition to its 
traditional mining of copper, gold and silver, wants to also 
focus on unconventional gas, potassium and phosphorites. 
     
    SHALE GAS 
    Poland will release a report on the results of shale gas 
drilling conducted in Poland so far, the first such report to be 
based on factual drilling and not estimates, daily Dziennik 
Gazeta Prawna wrote. 
 
         
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