KERM recommends sale of gov't stake of PBR

The state treasury currently holds a 29.5% stake in PBR. Balcerowicz would not say whether the treasury would sell its shares through Bank Rozwoju Eksportu S.A.'s (BRE) current public tender to buy up PBR shares at zl. 24.3 each. The BRE tender will last until May 4. Yesterday, Sweden's Skandinaviska Enskilda Banken said it would launch a public offer for PBR next week. Germany's Bayerische Landesbank is awaiting Securities and Stock Exchange Commission (KPWiG) approval to do the same. (Reuters)