A half-hearted privatization for Ruch?

The only hurdle left for the prospectus is for it to be approved by the shareholders, in this case the Treasury Minister. The Ruch IPO will involve the floatation of new shares, most likely without a sale of existing ones by the Treasury. Ruch would very much like to see such a sale take place. "This would give investors a completely different signal. A sale of shares by the Treasury would enable the launch of the privatization process and contribute to an increase in Ruch's value," said company president Miron Maicki. However, he is unlikely to be able to win over the Treasury Minister, as with elections looming, the opposition will be pressuring the government not to push ahead with privatization. "No decisions have been made [in this matter]," said Treasury Ministry spokesman Janusz Kwiatkowski. (Puls Biznesu, p. 10) T.J.