1/04/2008

Poland may sell state stake in LOT airline

Poland's Treasury Ministry may sell its 68 percent stake in state-controlled airline PLL LOT, as there is no sound reason for it to remain in state hands Deputy Treasury Minister Zdzislaw Gawlik said on Thursday.

The ministry must make legal changes first, as current regulations allow the ministry to sell only a minority stake.

"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 told Reuters.

The ministry plans to float the carrier this year on the Warsaw Stock Exchange. According to earlier remarks by the company's chief executive, Piotr Siennicki, LOT could debut on the Warsaw bourse in the third quarter of 2008.
Source:By Pawel Bernat, Patryk Wasilewski Rory Channing, reuters.com



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