OMV and MOL asked for detailed PKN Orlen bids

Nafta Polska, which is acting on behalf of the Treasury in the sale of PKN Orlen, has invited two petroleum companies, OMV of Austria and MOL of Hungary, to submit detailed offers of their bids. The contents of the document sent by Nafta Polska are secret, however Rzeczpospolita reports that an exchange of shares among the three companies is not being considered. The strategy for privatizing PKN Orlen approved by Nafta Polska envisages the creation of a Central European petroleum conglomerate. Unofficial sources quoted by Rzeczpospolita say that the two companies have been given two weeks to submit their offers, and the Treasury has set Nafta Polska a deadline of September 15 for finalizing the transaction. Experts say, however, that the term is not very realistic, and has been set by the Treasury with a view to obtaining the necessary government approval before the election. Rzeczpospolita speculates that the Treasury may receive between zl.2 billion and zl.2.5 billion from the sale of PKN Orlen. (Rzeczpospolita, p. B3) P.W.