Penta Eyes Ruch

Penta Investments is interested in Ruch, which has long been rumoured to be on the Polish government's asset deposal list.

The Polish Treasury sold a minority stake in Ruch last year. The management is apparently pressuring the Treasury to allow a strategic investor to take a majority stake.

Ruch sells around half the newspapers in Poland.

Penta, last year beat Ruch to buy convenience store chain, Zabka and reckons the acquisition of the kiosk chain would make a good addition.

Back in June, the government said it was in discussions with numerous local and foreign financial and publically listed players about Ruch.

However, a government spokesman said a sale of the stake would most likely take place in the shape of an IPO.