Portal to increase capital
Wirtualna Polska, the second largest Polish portal, has decided to increase its capital by 25 percent. A new share issue was directed at TPSA although apparently negotiations are dragging on and not really getting anywhere.
WP claims that it is worth USD200m and therefore TPSA would need to find USD50m for a 25 percent stake.
Forty percent of the portal is currently owned by Prokom, which is a major client of TPSA. Furthermore TPI, the internet wing of the former telecommunications monopoly has already invested in Prokom Internet.
Analysts therefore believe that it is only a matter of time before closer links between the two were forged.