PKP relaunches subsidiaries sale

Poland’s state-owned railway holding PKP is relaunching the privatization of its non-core subsidiaries, reports Puls Biznesu. The holding recently sold cable car firm PKP PLK and successfully floated freight firm PKP Cargo on the Warsaw Stock Exchange. It is now about to relaunch the sale of telecommunications unit TK Telekom and of energy supply firm PKP Energetyka. It has already picked advisors for the latter deal. Investors will be invited to submit offers within the coming two months. In late 2014 or early 2015, PKP plans to start looking for an investor for its IT services unit, PKP Informatyka. In the case of PKP Intercity, an IPO is possible in two-three years’ time. Before that, the company has to improve its financial situation and start recording profits.