Parallel OMV, MOL talks to be held on PKN Orlen

Nafta Polska, the agency acting on behalf of the State Treasury in the privatization of PKN Orlen, has decided to open parallel talks with OMV of Austria and MOL of Hungary on the sale of a stake in the Polish oil giant. Nafta Polska wants both companies to extend until April 15 their PKN Orlen purchase offers. "Let's remember that MOL's exclusive right to negotiate the purchase of 17.6% of PKN Orlen expired on January 12. As a result, something had to be done about Orlen's privatization. It seems the Treasury once again wants a close look at both companies' offers," commented Grzegorz Stulgis, investment adviser with Credit Suisse Asset Management. He added that the PKN Orlen shareholders meeting scheduled for February 21, which could initiate personnel changes on the company's board, is likely to have a far bigger influence on the privatization than will the decision to hold parallel talks. (Rzeczpospolita, p. B5; Puls Biznesu, p. 8) P.J.