Kaczmarek over-rides official statement on G-8 sell-off

According to unofficial information in Puls Biznesu, the European Bank for Reconstruction and Development (EBRD) has confirmed its intention to participate in the G-8 privatization together with El-Dystrybucja. The paper speculates that this decision has probably influenced the sudden change of heart of the State Treasury. In what appears to be a dramatic turn of events yesterday, Treasury Minister Wieslaw Kaczmarek denied an earlier statement by Economy Minister Jacek Piechota that the German consortium E.ON had been granted exclusive privatization negotiating rights. Piechota backed out of his previous statement, blaming it on tiredness. It is also understood by the daily that Wednesday saw a meeting between El-Dystrybucja representatives and Peter Reiniger, the president of EBRD. El-Dystrybucja was most probably represented by its owner, Jan Kulczyk. The two sides have apparently agreed on the conditions of participation in the G-8 tender. EBRD will have two roles in the deal - as an investor and as a creditor. According to Puls Biznesu it was this particular decision that caused the shift in the government's attitude. (Puls Biznesu, p. 7) M.T.K.