LNM's talks with PHS unions continue to drag on

The LNM Group has asked the Treasury Ministry to postpone the deadline for negotiations with trade unions of Polish Steel Mills (PHS) by another two weeks. According to the contract initialed at the end of August, the Indian consortium should have finalized the talks with the unionist representing the 12,000 strong workforce of the company by yesterday. "I admit the discrepancies between both parties are large," said Antoni Styrczula of LNM. The principal point of disagreement is the employment guarantee period; the investor offers just four years, while workers still demand at least eight. The parties are also quarreling over privatization and retirement bonuses. As Rzeczpospolita reports, the transaction is worth some zł. 6 billion - LNM will pay the State Treasury about zł. 2 billion for the shares and lia bilities of PHS, raise the capital of the company by zł. 500 million and pay the outstanding debts of zł. 3.6 million. (Rzeczpospolita, p. B4) M.K.