Confirmed: Kompania Węglowa to sell its TPSA shares

The Treasury Ministry said on Monday it would let state-owned coal group, Kompania Węglowa (KW), sell its 44 million shares (a 3.3% stake) in TPSA this month. This news hit the price of the telecom shares trading on the stock exchange. It also confirmed press speculation that a sale was on the cards. In late March, KW had said it would use the stake as collateral for a loan rather than sell it. The Treasury Ministry said that, for the moment, it has no plans to give more TPSA shares to any other state-owned company and that it was still considering a public offering of its remaining stake by the end of the year. (Gazeta Wyborcza, Gospodarka Supplement, p. 4; Reuters) A.K.