Kompania Węglowa likely to be propped up with KGHM shares

Treasury Minister Jacek Socha confirmed that coal company Kompania Węglowa might receive either a small stake in copper and silver conglomerate KGHM, or some shares in companies which later will be privatized. "If the firm's situation deteriorates then it might receive some shares, whose value would be lower than zł.400 million," said Jacek Socha. The Minister indicated that, if need be to save KP, the state could transfer part of its 44% stake in KGHM to the coal company However, trade unions in the copper concern strongly oppose the concept of giving away the shares. Socha replied by saying that if the share transfer would not interfere with KGHM's development strategy, then the unions would most probably agree to it. (Parkiet, p. 7) M.M.