After its 25 percent stake in Agora began dragging BZ WBK TFI profits down, the fund has made a decision to offload its share in the Polish media group. Agora has failed to deliver any profits over the last five years, despite which BZ WBK TFI had been increasing its stake in the company. Arka’s representatives admitted its mistake in investing further. “The decision to withdraw from Agora is right”, says Łukasz Bugaj, an analyst the DM BOŚ brokerage house, 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 of a return to health, both then and today.”
