1/07/2008

Poland could sell LOT stake

The Treasury Ministry in Poland is considering selling its 68 percent stake in the national LOT airline, Reuters has reported.

Deputy Treasury Minister Zdzislaw Gawlik told Reuters on Thursday that there was no sound reason for LOT to remain in state hands.

"There are no rational grounds for the carrier to remain state-owned. We want to change the law in order to sell the shares," Gawlik said.

For the sale to go ahead, the ministry must make amends to the current legislation which only allows the ministry to sell one minority stake. If successful, the ministry could float the business on the Warsaw Stock Exchange by the third quarter of 2008.

Source: etravelblackboard.com



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