Elektrim could try and sell shares in PAK and not ET

According to rumors quoted by Parkiet, the BRE Bank and Eastbridge consortium will not purchase Elektrim's shares in Elektrim Telekomunikacja (ET). The consortium's exclusive negotiations rights over the shares expire in a few days on August 26. There is speculation that Elektrim bondholders are willing to pay up to zl. 1.2 billion for the shares. Elektrim might decide to try and sell its shares in another one of its companies, PAK, a group of three power stations. However, PAK's privatization contract that Elektrim signed states that the shares cannot be sold until 2005. Elektrim could seek to negotiate the issue with the Treasury Ministry that owns a 50% stake in PAK. However, once Elektrim sells its shares in ET and PAK the future of the concern could be called into question. (Puls Biznesu, pp. 1, 5; Parkiet, p. 1) A.D.