Optical and magneto-optical properties of ZnMnO films grown at low temperature by Atomic Layer Deposition are discussed. A strong polarization of excitonic photoluminescence is reported, surprisingly observed without splitting or spectral shift of excitonic transitions. Present results suggest possibility of Mn recharging in ZnO lattice. Strong absorption, with onset at about 2.1 eV, is related to Mn 2+ to 3+ photo-ionization. We propose that the observed strong circular polarization of excitonic emission is of a similar character as the one observed by us for ZnSe:Cr.