Poland Prepares for Oil and Gas Privatization

The Polish Treasury Ministry has confirmed plans to privatize the Polish Oil and Gas Company PGNiG via the bourse, with a majority stake to be kept by the State Treasury.

"If PGNiG is to be prepared for privatization, it will be via the bourse and with the State Treasury interest secured. The State Treasury will keep a controlling stake," treasury minister Zbigniew Kaniewski said in the Sejm (lower house of parliament).

PGNiG's public offering is due to be held in 2004.