After 25 percent stake in Agora began to drag BZ WBK TFI profits down, the fund has made a decision to offload its share in the Polish media group. Agora has been failing to deliver any profits during the last five years, though BZ WBK TFI was increasing its stake in the company consecutively. That is why the decision has been made this month to withdraw BZ WBK capital from the business. Arka’s representatives admit the mistake over the the investments, “The decision to withdraw from Agora is right”, says Łukasz Bugaj, DM BOŚ brokerage house analyst though he questioned why the decision was put off for so long. “For at least five years the company has been in the red, with no perspective to healthy return rate, both then and today”.
