Impasse continues in Częstochowa Steel Mill's privatization

The process of Częstochowa Steel Mill's privatization is becoming a comedy. At the end of April the Treasury Minister annulled the tender to sell the company, as it was not sure whether the tender was conducted properly. Towarzystwo Finansowe Silesia (TFS), which conducted the tender, objected. Now the government has a new idea. They do not want to announce a new tender, but want LNM and Donbas to submit their offers again, as conducting another tender would take 12 to 14 months, which is far too long for the mill to wait. TFS promised that if LNM and Donbas resubmit their offers, they will be able to choose a winner within three months. However, a problem is that Tadeusz Wenecki, TFS' new president, is in favor of a fresh tender. Only Donbas, whose offer was rejected earlier on, is satisfied with the government's proposal. LNM, who won the previous tender, has already initialed agreements with the mill's creditors. (Puls Biznesu, p. 7) D.W.