Impact: managers sell, funds buy

The sales manager, as well as the mother of the second most significant shareholder in Impact Bucharest, a constructions and real estate development company, liquidated their interests in Impact at the beginning of this year, making the controlling stake owned by Ioan Popp and the other managers increasingly fragile. Ioan Popp, the founder of the company, controls about one third of the shares himself and less than 50% together with the other managers, according to the latest available data. According to statements made by company management, foreign funds now control over a quarter of the shares. Maria Porosnici, the mother of Impact''s financial manager - Carmen Sandulescu, sold the whole 0.5% she owned; the company''s sales manager sold his entire stake, as well, but did not reveal its value. Imp act''s financial manager owns about 12% in company shares himself. ZF