Following are news stories, press reports and events to watch that may affect Poland’s financial markets on Monday. ALL TIMES GMT (Poland: GMT + 2 hours):
Poland’s largest insurer, the state-run PZU, said on Saturday it has started negotiations with Italy’s banking group Unicredit over buying the lender’s Polish unit Bank Pekao.
The U.S. bank currently employs 240 people at its Warsaw-based technology and operations unit and plans to double this number over the next twelve months, head of the unit told Puls Biznesu daily.
Beata Kozlowska-Chyla has resigned from the board of PZU, which may reduce tensions inside PZU management as she was in a conflict with Chief Executive Michal Krupinski, Puls Biznesu daily reported.
PZU said during the weekend that its supervisory board appointed Tomasz Kulik as chief financial officer.
Poland should liberalise its market for natural gas only after diversifying supplies of the commodity, Poland’s minister responsible for gas infrastructure, Piotr Naimski, was quoted as saying by Rzeczpospolita daily.
Investment funds reduced their holdings of stocks listed in Warsaw by over 1 billion zlotys ($261.83 million) in the January-September period, estimates by Trigon DM brokerage quoted by Parkiet daily showed.
South Africa’s Naspers has sold its Polish e-commerce businesses Allegro and Ceneo to funds advised by private equity firms Cinven, Permira and Mid Europa for $3.253 billion, the Naspers said.
****Reuters has not verified stories reported by Polish media and does not vouch for their accuracy.****
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