Coal sector consolidation prior to floatation

They will receive 57% of Węglokoks' shares and afterwards the coal exporter will be floated in 2006. Kompania Węglowa (KW) will receive 45% of shares, Katowicki Holding Węglowy - 10%, while Budryk mine - 2%. "We do not know the full details yet," said Piotr Czajkowski, president of Budryk mine. Ma ksymilian Klank, president of KW, also said that he did not know the s chedule related to the share transfer. "Linking Węglokoks with KW is not the best idea. There are several coal producers in Poland and it might turn out that they will have difficulties in gaining access to export as a result of this move," said Wiesław Blaschke from the Polish Academy of Sciences (PAN). According to the president of Węglokoks, Piotr Makselon, assets of his company are worth zł.1.2 billion and additionally it holds a 4% stake in Polkomtel, which is worth EUR 80-120 million. (Puls Biznesu, pp. 1, 7) M.M.