Polish managers of a former state-owned company are receiving harsh lessons in capitalist reality. They are on the wrong end of the country’s first hostile takeover bid, launched by a British firm with which they were in partnership talks less than a year ago. Worse, Poland’s BIG Bank Gdanski, holder of 14% of the stock and a seat on the supervisory board, has not rallied to the target’s defence and says it will sell at the best price.
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