Poland’s former telephone monopoly, TPSA, has long been a reliable money-spinner for its owners at France Telecom. But awful results for last year released on Tuesday sent the share price plummeting by more than 30 per cent in early trading on the Warsaw Stock Exchange. Read more

One of the signs of approaching economic troubles is when blue chips start getting battered, which is what makes the travails of Orange Polska, Poland’s leading telephone operator and a unit of France Telecom, particularly worrying.

Growth in Poland’s economy is expected to slow to 2.2 per cent this year and some bears such as Neil Shearing of Capital Economics have pencilled in growth of only 1.5 per cent for next year. Read more