Ministry gives KW last minute approval to sell its TP SA shares

The transaction was approved by Treasury Minister Zbigniew Kaniewski, despite the fact that the coal company was prohibited from selling the shares until the end of May. Final permission for KW to sell its shares was taken quickly, as on Friday morning Kaniewski's press office maintained that the coal company would not be allowed to dispose of its stake until the May deadline had passed. "Despite the fact that KW is posting profits, we are still looking for cash. Social security contributions (ZUS) and wage bonus' cost us a lot. Moreover, steel which we use in large quantities, has gone up in price," explained KW's spokesman Zbigniew Madej. (Parkiet, p. 1) M.M.