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Adamczyk, Cezary


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4 articles of this author have been cited in the European Press Review so far.


Rzeczpospolita - Poland | 13/02/2013

Telekom Polska gambles away investor trust

The share price of Telekom Polska (TPSA) dropped by around 30 percent on Tuesday after the management board slashed its dividend proposal for 2012 for the second time. The management is playing with the investors's trust, the conservative daily Rzeczpospolita writes angrily. "It's no secret that TPSA is in trouble, one need only glance at the analyst recommendations of the past months. Nevertheless, no one thought things were as bad as this. Previously it's always been thought that movements of more than ten percent were only possible with low-liquidity stocks. ... At the end of the day it's the management board that's lost the most, however, because its credibility among investors - a priceless asset on capital markets - has suffered a hard blow. One can only hope that the other big companies won't follow in the footsteps of TPSA with similar surprises for investors. Because that would put a huge question mark over the recent bull market."

Rzeczpospolita - Poland | 22/12/2011

The ECB's spectacular move

The gigantic amount of credit freed up by the European Central Bank can calm the markets and help rescue the euro, the conservative daily Rzeczpospolita writes: "The only question that remains is whether the banks will take the risk of for example purchasing Italian or Spanish bonds or try to keep risks to a minimum. If they invest in the indebted countries the situation on the markets could calm down, meaning investor confidence will also be sure to grow. But if they don't, all the old problems will return. The ECB's current support for the banks is so spectacular that the volume of the loan is almost twice as high as expected. In addition the three-year term gives banks and investors the time they need."

Rzeczpospolita - Poland | 07/12/2011

Major Polish company faces challenge

Europe's largest copper company, the Polish firm KGHM, plans to take over the Canadian company Quadra FNX Mining for 2.35 billion euros. This will be the biggest acquisition ever made by a Polish company. The conservative daily Rzeczpospolita is concerned that there won't be any money left for dividends: "Despite this deal, which gives Poland the chance to forge ahead in the global race for access to raw materials, the question remains: what will become of the dividends? KGHM has traditionally been one of the companies to issue the highest dividends. Has the chairman of the company anything to say about this? ... Another question is whether the company, which is based in Lubin, will be able to take full advantage of this opportunity abroad. Because now it will be active in Canada, not just Lower Silesia. ... Will the managers be able to handle the consequences of this transaction?"

Rzeczpospolita - Poland | 30/11/2010

Success uncertain

The EU is pursuing three goals with its rescue package and could fail on all three counts, writes the conservative daily Rzeczpospolita: "Firstly, the so-called Ireland bailout is in fact aid to Western banks - first and foremost those of Germany and Britain. They have footed roughly 40 percent of all foreign loans to Ireland. So if Ireland did end up declaring bankruptcy the Western banks would be in a bad way. Things are calm at present, but how long will that last? Secondly the idea is to show the public that Europe's institutions are in a position to beat Europe's financial crisis. Nevertheless it remains a moot point whether Europeans will actually believe this. ... The third goal is to calm the financial markets. That hasn't been the case to date ... as the euro's plunge against the dollar has shown."

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