Confusion surrounds reports of Treasury's G-8 sale deal

There are conflicting reports about an agreement to sell a stake in the G-8 group of northern energy distributors. Unofficial sources quoted by Prawo i Gospodarka say that during Monday night an agreement was reached with the State Treasury on the terms of the share purchase. The daily quotes its sources as speculating that a 25% stake in G-8 would cost some $500 million. Prawo i Gospodarka also reports that the buyers, a grouping that includes Elektrim, along with the Energia company, which has links to domestic entrepreneur Jan Kulczyk. has asked for an extension of its exclusive negotiating rights to allow time to reach a deal with G-8 employees on a social package. However, Puls Biznesu describes the available information about the agreement on the G-8 sale as "total disinformation". Questioning how beneficial such an arrangement would be, the paper quotes industry insiders who say it would be better for the Treasury not to extend the deadline for exclusive negotiating rights. The source says that the refusal would give the Treasury an opportunity to find a better investor for G-8. A final decision on the sale rests with Treasury Minister Wieslaw Kaczmarek. (Puls Biznesu, p. 10; Prawo i Gospodarka, p. 5) P.J.