Gov't stands (almost) firm over PKO BP privatization

The government stood firm and announced that the privatization process will be continued along its present course. The decision is a result of protests from foreign investors and legal opinions. "We consulted the Securities and Exchange Commission and the European Integration Committee. Withdrawing the tranche for foreign investors would be inconsistent with EU directives and the Accession Treaty," stated Treasury Minister Jacek Socha. The market was relieved at the news, "It means we are returning to normality," declared Millennium DM analyst Marcin Materna. However, Socha added that PKO BP's debut on the bourse may be postponed until 10 November due to "technical reasons." (Puls Biznesu, p. 5; Parkiet, p. 1) E.B.