Leszek Iwaszko News
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TVN SA, Poland’s second-largest television network, jumped the most in three weeks after it posted a higher-than-expected net income in the third quarter.
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Jastrzebska Spolka Weglowa SA slumped to a six-week low after Societe Generale SA lowered its share-price estimate for the European Union’s biggest coking coal producer and maintained its sell recommendation.
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KGHM Polska Miedz SA, the copper miner with the biggest European mine output, dropped to a 15- month low after Poland published a draft of the new copper tax bill it plans to implement in 2012.
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KGHM Polska Miedz SA said third- quarter profit more than tripled as the copper producer with the largest European mine output benefited from copper prices and the weakening zloty.
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Telekomunikacja Polska SA , Poland’s largest phone company, reported a third-quarter net loss after losing a court ruling, missing analysts’ estimates.
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TVN SA shares posted their biggest gain this month after Poland’s only publicly traded television network reported first-quarter preliminary earnings that beat investors’ expectations.
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Quadra FNX Mining Ltd. shareholders approved a C$2.87 billion ($2.9 billion) takeover by KGHM Polska Miedz SA, in the nation’s biggest bid abroad designed to deepen the Polish copper producer’s global reach.
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KGHM Polska Miedz SA, Poland’s sole copper and silver producer, may pay a lower tax than expected after the Finance Ministry relaxed its plan for a new levy it plans to impose this year for extracting the metals.
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Cyfrowy Polsat SA , Poland’s biggest satellite television broadcaster, agreed to buy Telewizja Polsat SA, also controlled by billionaire Zygmunt Solorz-Zak , for 3.75 billion zloty ($1.3 billion).
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KGHM Polska Miedz SA, the copper miner with the largest European output, rebounded from a two- month low as Societe Generale SA said a selloff on a deal to buy Canada’s Quadra FNX Mining Ltd. was “overdone.”
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