Orlen to benefit as race for Czech oil firm heats up?

KazMunaiGaz had offered CZK 16 billion for the stake, as compared with CZK 10 billion offered by Poland's PKN Orlen. However, some analysts view the return of the Kazakhstani company as favorable for Orlen's chances. KazMunaiGaz's offer was originally rejected due fears that a Russian company would eventually take over the Czech oil firm. Now those same fears could act against Shell and KazMunaiGaz's combined bid. Since the third bid - placed by Hungary's MOL - has been viewed as the poorest one from the beginning, Orlen's chances are seen to be improving. (Gazeta Wyborcza, Feb. 28-29, p. 30) T.J.