Sales of state-held assets generate revenues topping zl.26 billion in 2000

Poland's Treasury Ministry said on Thursday that capital inflows from sales of state-owned assets reached over zl.26.7 billion last year, some 33% above the zl.20.1 billion planned. Among the crucial deals was a zl.18.6 billion sale of a strategic 35% stake in national telecom operator Telekomunikacja Polska S.A. (TP SA) to France Telecom-led consortium and the floatation of a further 26% stake in oil producer and distributor PKN Orlen. The Treasury also disposed of part of its minority stake in Poland's largest retail bank Bank Pekao S.A. during a second public offering and sold shares in PBK to Bank Austria. Finally, the Treasury also managed to sell a stake of central Europe leading hotel chain Orbis to French Accor-led group. This year privatization inflows are estimated at zl.18 billion, coming mostly from the disposal of stakes in Warsaw Stock Exchange blue-chip companies and the energy sector. (Rzeczpospolita, p. B2, Reuters) M.M.