July 25, 2008

Poland to sell minority stakes in utilities by 2010 end

Thomson Financial reported that Poland is planning to sell minority stakes in the country's four biggest power companies PGE, Energa, Enea and Tauron by the end of 2010.

Mr Krzysztof Zuk deputy treasury minister in an interview told newspaper that Enea will sell new shares and float on the Warsaw stock exchange in 2008, followed by PGE, Poland's largest power producer, at the turn of this and next year. After that the state will sell stakes in the companies, but keep control over them.

Mr Zuk said that Energa and Tauron will float 'no earlier' than in the second half of next year and the sale of state's stake in both power producers could happen in 2010. He added that Polish coal miners including Katowicki Holding Weglowy, Jastrzebska Spolka Weglowa and Bogdanka will also float on the stock exchange next year.