PKP wants to sell three more subsidiaries

State-owned Polish Railways PKP wants to privatize three major subsidiaries this year: PKP Energetyka, TK Telekom and PKP Informatyka, the group’s CEO Jakub Karnowski told PAP. “We would like to launch these privatizations in 2014, but I can’t say if we will be able to complete them this year,” Karnowski said. PKP Energetyka and TK Telekom are to be sold to strategic investors. The holding previously attempted to sell TK Telekom but without much success. Now the company is being divided into three smaller ones, separating its infrastructure and construction operations from the optic fiber telecommunications business. The proceeds from the sales will be used to pay off some of PKP’s PLN 3.3 billion debt, PLN 1.5 billion should be repaid in 2014.