5th September 2011
Thursday, May 17th, 2012
Sale of PKO BP stake postponed
The Treasury cited instability in the markets as its reason
The Ministry of Treasury and state-controlled Bank Gospodarstwa Krajowego (BGK) have suspended the sale of a 15.25 percent stake in Poland’s largest bank, PKO BP, because of recent turmoil on the markets.
The project is set to be continued in late October or early November, the ministry announced on its website.
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| PKO BP is Poland's largest lender Courtesy of Wikimedia Commons |
The 15.25 percent stake comprises the full 10.25 percent belonging to BGK and 5 percent belonging to the Treasury, and has been valued at up to zł.6.78 billion.
The Treasury’s holding will be reduced to 35.99 percent if it manages to successfully offload the planned portion.
The ministry also recently announced that it is still on track to reach its goal of raising zł.15 billion this year from privatization revenues.
“The privatization processes are going as planned,” the statement read.
From Warsaw Business Journal by Gareth Price
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PKO BP and PZU eying ING's Polish, CEE assets: report
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