Settlement with union and RWE wins STOEN tender

Today Germany's RWE is to finalize negotiations with the State Treasury over the purchase of Stoen, Warsaw's only electricity supplier. According to unofficial information the most important decisions have been agreed upon, that is except for employees' work guarantees. After long talks, the union finally decided to abandon its stance of demanding 15-year employment guarantees and now is ready to compromise on 10 years. The German investor will most likely propose a maximum period of five years for the 1,700 strong workforce. RWE will offer each employee zl. 9,000 as a so-called privatization bonus, and guarantee that wages at STOEN will be indexed against inflation. The price of the transaction is still unknown. (Puls Biznesu, p. 5) A.K.