Swissair's LOT stake may sell for cut-price zl.78 million

A consortium of Polish banks is reported to be interested in purchasing Swissair's 25.1% of shares in LOT Polish airlines. According to anonymous sources quoted by Puls Biznesu, the banks are tempted by the 30% discount being offered on the market value of the shares. LOT's share capital currently stands at zl.447.67 million, which values the Swissair holding at zl.112.36 million. If the information is confirmed and the deal goes through, the bank consortium would pay zl.78 million at the most for the 25.1% package. Although the identities of the banks making up the consortium have not been revealed, Puls Biznesu speculates that it may include PKO BP, Pekao S.A., BRE Bank, ING Bank Slaski and PBK BPH. (Puls Biznesu, pp. 6, 7) M.T.K.