Foreign investors snubbed as PKO BP deal is approved

However, in contrast to previous plans the tranche aimed at foreign investors, which was supposed to amount to 35% of the stake, will not be executed. The liquidation of this tranche was proposed by Democratic Left Alliance (SLD). "The division of the stake into tranch-es, including the one for foreign investors, was widely discussed with analysts and privatization advisers," said Treasury Minister Jacek Socha. He explained the consequences of the latest move: "If the sale of the bank has to bring specified budget revenues than it has to be carried out in accordance with all the rules of the act. The liquidation of the tranche for foreign investors will mean that the sale of PKO BP will be carried out at the lowest price bracket, because demandwill not be as high." (Parkiet, p. 1) A.K