Kulczyk maneuvers to regain influence over PKN Orlen

One of the richest Poles, Jan Kulczyk, who directly controls a 5.6% stake in PKN Orlen (and a 10% stake indirectly), has now no representative on the supervisory board of the oil giant. However, the market is convinced that he is not about to give up his influence over the concern and, "There are many signs that he might appeal against the decision about choosing a new supervisory board chairman. It is possible that one of possible ways to solve the conflict might be an agreement between the Treasury and Kulczyk Holding," said one of the participants in Orlen's Extraordinary Shareholders Meeting. Some claim that Kulczyk will push to introduce his man to the board, as he has the right to do this, and increase his power in PKN. "He would need an ally. I can see none, so Kulczyk will have wait for a foreign sector investor," stressed one of the analysts. (Puls Biznesu, pp. 1, 7) M.M.