PKN Orlen to consider lawsuit against PSE over unpaid shares

Oil concern PKN Orlen informed in May, that it had concluded the option of s elling a 35% stake in independent phone operator NOM to the National Grid (P SE) for zł. 111.5 million, while its nominal value amounted to zł. 84 millio n. PSE has so far not paid for the shares and its president Piotr Rutkowski claimed that carrying out a put option required a decision at the general sh areholders meeting and from its supervisory board. "The Put option was carri ed out in accordance with memorial rule, and registered in the company's bal ance sheet. The sheet was in turn examined by an auditor who had no reservat ions regarding it," said Krzysztof Mikołajczyk, Orlen spokesman. Mikołajczyk also added that if the money was not paid by the end of the year, then PKN m ight file a lawsuit against PSE. Rutkowski, however, proposed that Orlen exc hange NOM shares for a stake in Tel-Energo. (Parkiet, p. 3) M.M.