BOS might be forced to merge with BGZ due to ministerial wrangles

The State Treasury has prepared a draft of merging Bank Gospodarki Zywnosciowej (BGZ) with Bank Ochrony Srodowiska (BOS), which apparently will see the latter institution taking over BGZ which is twice its size. The Treasury was not pleased with the fact that stock-listed BOS was managing state money of the National Fund of Environmental Protection (NFOSiGW) and demanded that it be managed by BGZ instead. "In order to satisfy different interests in the Ministry, we have prepared this proposal," a well-placed source told Puls Biznesu. Meanwhile, BOS management said it was unaware whether such draft was currently being analyzed and stated, if it is, it should be first discussed with its owners, NFOSiGW and Swedish SEB. According to analysts, such a merger would only produce problems and might end up meaning the nationalization BOS and not the privatization of BGZ. (Puls Biznesu, pp. 1, 6) M.M.