Cautious reactions to latest tender for Bank PKO BP privatization advisor

The State Treasury believes that that this time round, the tender for the privatization advisor of bank PKO BP will end successfully. Deputy Treasury Minister Barbara Misterska-Dragan, stressed that analyzing the project of merging PKO BP and the largest domestic insurer PZU would not delay the process. "The tender is underway and we will open the envelopes with offers on November 24," explained the minister. She is also convinced that the privatization should begin between the second and third quarter of 2004. "We are analyzing the terms and are considering whether to place our offer again," said Citigroup Global Markets Polska president Paweł Szymański. The company took part in the previous tender in consortium with DM Bank Handlowy. According to Puls Biznesu sources, initial interest in the proceedings was also expressed by Credit Suisse First Boston, which was previously in a consortium with BDM PKO BP. "We have looked at the requirements, prepared our analysis, but it is hard to state whether we will place an offer," said CA IB Financial Advisers spokesman Arkadiusz Hajduk. (Puls Biznesu, p. 7) M.M.