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KGHM to become energy player via PAK acquisition?

2007-09-21 00:00
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2007-09-21 00:00
An earlier bid from KGHM, valuing PAK at zł.1-1.2 billion, provoked an angry response from Elektrim's owner Zygmunt Solorz-Żak. Elektrim says the stake is worth zł.2 billion. Meanwhile, the Treasury, which owns the remaining 54% and which encouraged KGHM  to bid for Elektrim's stake, is reportedly mulling a plan to merge PAK with two energy distributors, Enea and Energa. By acquiring the combined group, KGHM would emerge as a major player in the Polish energy market. (Puls Biznesu, p. 1, 4-5) R.M.

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