Treasury Ministry announces its privatization plans for retail-bank PKO BP

The Treasury believes the best way to privatize Poland's largest retail-bank PKO BP bank could be through a merger with another already-privatized domestic bank. According to Deputy Treasury Minister Alicja Kornasiewicz, such a merger could take place next year, possibly with Bank Handlowy, BRE, United PBK with BPH, or Pekao S.A. Kornasiewicz says the Treasury is planning a public issue of 9.1% of Pekao's shares and 10.5% of Bank Czestochowa's shares in September. (Rzeczpospolita, July 29-30, page B4) A.D.