9/27/2007

Poland unsure if PKN or Lotos would lead merger

Sept 26 (Reuters) - Poland's treasury minister said on Wednesday it remained unclear whether the country's biggest oil group PKN (PKNA.WA: Quote, Profile, Research) or Lotos (LTOS.WA: Quote, Profile, Research) would lead a possible merger between the two state-controlled companies.

"Right now the way this would be conducted is not decided yet. I personally ... like the idea that it would be led by Orlen," Wojciech Jasinski told reporters.

Prime Minister Jaroslaw Kaczynski, whose government faces an early election on Oct. 21, recently said a decision on an eventual merger would probably be made only in 10-11 months' time and that Lotos was best suited to lead the merger.

Source:uk.reuters.com



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