Kety’s CEO, Dariusz Manko, stated yesterday in a PAP interview that Kety had resigned from its plans of two reconsidered foreign acquisitions. One of the reconsidered targets was located in Europe while the other outside Europe. According to the CEO the reasons behind the withdrawal were that the financial figures of one of the companies deteriorated instead of promised improvement while in the other case the owners’ expectations (most probably towards price) grew substantially. These potential targets were to have sales similar to acquired in February this year Aluprof, i.e. some PLN 100m. At the same time the CEO did not exclude that some acquisition may be conducted in Poland, potentially this year. As the news was released yesterday during the session we expect it to have been discounted in Kety’s share price that rose 0.4% to PLN 129 per share. We reiterate our Sell rating for Kety with a fair value estimate at PLN 116.8 per share.