Poland won't privatize state firms anymore - Kowalczyk

Poland “will no longer privatize” state companies and will focus on “rebuilding assets,” cabinet minister Henryk Kowalczyk said. According to Kowalczyk, Poland will continue the nationalization of the banking sector through acquisitions, after the state-owned insurer PZU has acquired stakes in a number banks, including the second biggest Polish lender Bank Pekao. “Thanks to this operation, the share of Polish capital in the banking sector stands at over 55 percent. We should target 90 percent, looking at the example of Western Europe states,” he explained. This is somewhat a contradiction to what the Finance Minister Mateusz Morawiecki said recently, that the state doesn't plan on any acquisitions anytime soon and should focus on the assets at its disposal.