Hledat v komentářích
Investiční doporučení
Výsledky společností - ČR
Výsledky společností - Svět
IPO, M&A
Týdenní přehledy
 

Detail - články
Lotos: Merger with PKN Orlen puts Lotos' investment plans at risk

Lotos: Merger with PKN Orlen puts Lotos' investment plans at risk

30.8.2007 10:51
Autor: KBC/Patria

The management board of Lotos (44 PLN, 0,70%) believes that the merger with PKN (57 PLN, -2,71%) Orlen, which is being pushed through by politicians in the media would cost the company roughly PLN 2bn as its investment plans will be hindered. It is claimed that this is due to the fact that banks will become more reluctant to grant a loan to the company for its Complex Technological Development Program (PKRT). Lotos fears that banks might increase the cost of financing and demand additional collateral. The firm admits that its cash resources are rapidly depleting and it must obtain the external financing by the end of 2007. If the project is halted due to lack of financing, the firm would have to pay its contractors contractual fines amounting to roughly PLN 627m. Daily Parkiet reports that Lotos' management board is considering suing Orlen due to spreading rumors on the potential merger.

Our view: The meaning behind this message could be that the company has is actually having problems with getting financial sources for its PKRT project. Due to whatever reasons it might happen (world credit crunch, PKN merger announcements) it could fuel the fears on the market about the potential problems with Lotos’ major investments plans and put the stock under the pressure. The other meaning behind is that with coming elections in Poland the power of ruling PiS party is decreasing, which makes Lotos’ management to be brave enough to oppose the PKNLotos merger plans, which are being pushed mostly by politicians.


Váš názor
Na tomto místě můžete zahájit diskusi. Zatím nebyl zadán žádný názor. Do diskuse mohou přispívat pouze přihlášení uživatelé (Přihlásit). Pokud nemáte účet, na který byste se mohli přihlásit, registrujte se zde.
Aktuální komentáře

Související komentáře
Nejčtenější zprávy dne
Nejčtenější zprávy týdne
Nejdiskutovanější zprávy týdne
Denní kalendář hlavních událostí
Nebyla nalezena žádná data