PKO BP sale in doubt after adviser's tender canceled

Treasury Minister Wieslaw Kaczmarek has canceled the tender for an adviser on the privatization of Poland's largest bank in terms of assets, PKO BP. Kaczmarek said that before any such deal could go ahead, it is important to establish the missions and objectives of the three banks wholly owned by the State, namely PKO BP, BGK and BGZ. "If privatization is required to fulfill that mission, it shall be carried out," he said. The tender for the sale's adviser was announced by previous Treasury Minister Aldona Kamela-Sowinska last month, with the deadline set for November 5. The privatization plan provided for the public floatation of the bank, but with the majority of shares to remain in State hands. (Rzeczpospolita, p. B5) T.J.