Orlen and KGHM share transfer plan slammed by unions

Trade unions representing workers at copper concern KGHM and oil giant PKN Orlen have said no to the plans of Treasury Minister Jacek Socha to transfer the shares of these companies to the Kompania Węglowa coal conglomerate. Józef Czyczerski, the leader of Solidarity at KGHM and member of its supervisory board, argued, "The Treasury should not transfer KGHM shares as this may result in stifling the dynamics of the company and halting investments in the extraction of copper ore from deep deposits." The share transfer, should it go ahead, would see Kompania Węglowa receiving zł.400 million in liquid and zł.500 million in non-liquid assets. (Parkiet p. 1, Puls Biznesu p. 8) M.G.