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Poland mulls merging its biggest oil and gas firms - minister

Published 2016-01-11, 05:15 a/m
Poland mulls merging its biggest oil and gas firms - minister
PGN
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PKN
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LTSP
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HG
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WARSAW, Jan 11 (Reuters) - Poland mulls mergers between its
three biggest state-run oil and gas companies - PKN Orlen
PKN.WA , Lotos LTSP.WA and PGNiG PGN.WA and is analyzing
various options, the treasury minister Dawid Jackiewicz said on
Monday.
"I have started works on this concept to find out what
positive effects one could expect. This is about strengthening
our position in these companies in order to prevent attempts of
hostile takeovers," Jackiewicz said.
He added that results of such analysis should be ready by
the end of the first quarter.
Jackiewicz also said that the state-run KGHM, which Europe's
second biggest copper producer, should diversify its operations
so that it is less exposed to copper price falls.
He also said that it would be justified for KGHM to get
involved in the energy sector.
The minister also said that he wants to check whether KGHM's
multi-billion investment in copper mines in Chile was justified.
"We have some doubts on that," Jackiewicz said.

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