Treasury submits WSE privatization plan to KERM

The Treasury Ministry yesterday submitted to the Cabinet Economic Committee (KERM) a plan for the privatization of the Warsaw Stock Exchange (WSE). Under the proposals contained in the plan, 40% of WSE shares would be reserved for a strategic investor which, according to indications from the Treasury, could well be the Euronext alliance of the Paris, Amsterdam and Brussels stock exchanges. A further 30% of WSE shares will be passed on to brokerage firms, while a package of 25% of shares plus one will be kept by the Treasury, ensuring that it retains the power of veto over strategic decisions by the other shareholders. According to Treasury Minister Aldona Kamela-Sowinska, the final strategy for the sell-off will be announced in September, and the WSE will go ahead with its privatization next year. (Gazeta Wyborcza, p. 33) M.T.K.