PGE to sell Exatel to State Treasury?

PGE would like its telecommunications arm Exatel to be acquired by the State Treasury, according to Puls Biznesu daily. Poland's largest utility has been trying to get rid of Exatel for a while. Earlier, the media reported that the company planned to offer its subsidiary to save Kompania Węglowa mine. The idea of the Treasury purchasing Exatel was approved by the previous government, but the new administration may have a different opinion. Puls Biznesu reported that PGE has already begun due diligence of the subsidiary and has already prepared its valuation, but has not yet revealed it. The daily estimates that Exate may be worth up to PLN 400 million, taking into account its EBITDA and free capital.