KGHM, PGE and Azoty want to rescue Polish mining

Three of Poland's blue-chip firms, copper miner KGHM Polska Miedź, power company PGE, and chemicals producer Grupa Azoty, have approached Polish Investments for Development (Polskie Inwestycje Rozwojowe) offering money and assets to repurchase Polish mines, Reuters reported. According to the agency, KGHM could give away its Polish spa resorts, which are owned by KGHM's investment fund for non-core assets. Grupa Azoty also offered some undisclosed assets. PGE offered cash and Exatel, its telecommunications branch, which would translate to the addition of of PLN 6 billion to the fund. The talks are still ongoing, the agency stated.