International investors line up to replace Elektrim in PAK

The problem is that although the Treasury is the largest shareholder in PAK with a 50% stake, operational control over the company is executed by Elektrim, which officially holds a 38.5% stake and is currently at odds with the Ministry. Elektrim, controlled by TV mogul Zbigniew Solorz-Żak, is unable to secure financing for massive investments it has pledged to make in PAK as a result of which the government is threatening to deprive it of control over PAK. Solorz-Żak says Elektrim's failure to find financing for the investment is due to uncertainty surrounding the future of long-term energy delivery contracts, for which he blames the government. The contracts violate EU competition rules, but the government has not yet come up with the way out of the dilemma. Solorz-Żak says that his investments in PAK first need to be secured before a new investor is allowed into the company and that he is not afraid of government's threats. (Puls Biznesu, p. 4) T.J.