Three companies line up bids in Stoen privatization

The number of companies interested in the privatization of Warsaw energy supplier Stoen has risen to three, after Berlin-based energy company Bewag and Vattenfall of Sweden announced plans to submit offers. A stake of up to 25% of Stoen is for sale, and earlier RWE of Germany had declared its intention to bid. According to Prawo i Gospodarka, a 25% stake in Stoen will cost approximately $125 million, although Gazeta Wyborcza puts the figure at over $200 million. Bewag, despite being almost 45% owned by Vattenfall, is implementing an independent expansion strategy on the European market, and is thus unlikely to play a part in a Vattenfall-led consortium bidding for Stoen. Vattenfall itself, which had been hesitating about joining the Stoen privatization process, confirmed its interest only yesterday. The Treasury has set a November 16 deadline for bids to be submitted. (Gazeta Wyborcza, p. 20; Prawo i Gospodarka, p. 4) P.J.