US Steel fails to secure extension to buy PHS

This means that the LNM Group, registered in Dutch Antilles, which has the exclusive rights for negotiations over PHS, does not have to worry that its competitors will be back in the game. However, the American company stressed that they might place a new offer if allowed. "From a legal point of view, it will not be possible until LNM has the exclusive rights," said Treasury Ministry spokesman Janusz Kwiatkowski. There is a growing tendency to look for other options of restructuring the steel concern in case privatization fails. It will be necessary, even if an investor enters PHS, because privatization has already been delayed and there is little time to use public aid. "We have talked with the investor about the possibility of providing bridging loans before concluding the privatization procedures," informed the treasury Ministry. (Puls Biznesu, pp. 1, 7) M.M.