Investors relieved Orlen loses out in Tupras tender

The winner was the consortium of Koc Holding and Shell, which offered $4.14 billion for the stake. "This could have been anticipated. It is hard to win with a giant like Shell. In my opinion Orlen will not change its strategy and will continue to search for potential investments. One of its targets might be Lithuanian Mozejki," commented Rafał Salwa, an independent analyst. As a result of the setback, the value of Orlen stock went up by zł.0.20-0.30 per share. This was the effect of last week's assessment of Fitch, which announced that the potential acquisition could threaten Orlen's solvency. The company is still working on resolving the difficult situation in its Czech subsidiary Unipetrol. (Puls Biznesu, pp. 1, 9) M.M.