Agora informed yesterday intraday that that its main rival Axel Springer would raise the copy price of ‘Dziennik’ Friday edition from PLN 1.5 to PLN 2.0, effective from today. Our view: Agora management has not yet indicated, whether it would respond with similar price increase of ‘Gazeta Wyborcza’, which is likely in our view. The alternative is to continue focusing on maximising ‘Gazeta’ circulation, with the view on higher share of advertising revenues. We view the news positively, but do not expect any further price reaction, following the 4.9% stock price gain on the back of the news yesterday.