Deadline today for Swedish Vattenfall's takeover of GZE

Swedish energy group Vattenfall has until midnight today to conclude negotiations on the acquisition of a 25% stake in energy distributor Gornoslaskie Zaklady Elektroenergetyczne (GZE). The Swedish investor is holding talks with the Treasury Ministry, as well as GZE employees. Although at first it seemed that Vattenfall would never agree to meet the elevated demands made by trade unions, the two sides are now said to be closer to a compromise. A major issue of dispute was the duration of employment guarantees by Vattenfall. The company was willing to assure employees that they will keep their jobs for the next five years, but they were expecting a 10-year guarantee. If Vattenfall successfully closes the negotiations, it would acquire a 25% stake and within two years time would gain a further 15% through an increase in GZE capital. The Swedish investor could then acquire shares from employees, giving it a majority stake. (Puls Biznesu, p.3)