MOL and OMV submit offers to Nafta Polska for 18% stake in PKN Orlen

Nafta Polska yesterday received offers from the two companies interested in buying the final stake put up for sale by the State Treasury in oil giant PKN Orlen. The offers, from MOL of Hungary and OMV of Austria, relate to the purchase of 18% of PKN Orlen shares. Nafta Polska, which is representing the Treasury in the privatization, will decide within a week which of the two bidders will be invited for further negotiations. However, analysts are predicting that both companies will be chosen, with a view to promoting the formation of a giant Central and Eastern European petroleum concern. Talks on its creation have been on-going for several months between representatives of PKN Orlen and both companies. OMV has already purchased 10% of MOL, in the hope of achieving a merger between the two companies. The Treasury, which according to analysts stands to net between zl.2 billion and zl.2.5 billion from the sale of PKN Orlen, wants the deal to be finalized by September 15. (Rzeczpospolita, p. B2) P.W.