Agora set to walk away from €42m acquisition

Agora, the Polish media giant, and its advisers Credit Suisse First Boston (CSFB) are considering pulling out of a Plz173m (€42m) acquisition, claiming that the target company failed to stick to terms set out in the initial agreement.

Agora said in a statement that "representations and warranties" made in the agreement by Art Marketing Syndicate (AMS), another Polish media group that Agora was looking to buy, were no longer accurate.

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