MCI Management continues investments

2010-08-26

MCI Management investment fund will introduce Telecom Media, a company operating in the media and advertisement segments, on the Warsaw Stock Exchange. The fund is the main shareholder of Telecom Media. Moreover, MCI Management considers either introducing Invia.cz, a Czech online travel agency, on the stock market or merging it with Travelplanet.pl, a Polish travel agency. In addition, the latter is also negotiating on merger with other potential partners. Among other MCI Management’s subsidiaries considering going public is Genomed, a medical diagnostics firm.
Moreover, the fund’s management has recently reported that it does not plan selling its stake in ABC Data, the distributor of IT equipment. The fund expects that takeovers planned by the distributor would increase the value of the company. ABC Data aims to become the largest IT distributor in the Central and Eastern Europe region.
MCI Management also reported that it plans to establish two new funds by the end of October 2010. One of them will operate in the real estate segment, while the other will be investing in clean technologies.
Still, the fund might find it difficult meeting its financial forecast for 2010; envisaging PLN 67m (€16.8m) of net profit as in H1 2010, it made PLN 21.2m (€5.3m) of net profit. The fund’s management underlined that the results will depend on a favourable situation on the stock market.