Polish opposition party says would not merge PKN with Lotos, PKO with PZU

Poland's largest opposition party, Civic Platform (PO), would oppose the merger of Poland's two oil refiners, PKN (55 PLN, -1,95%) Orlen and Grupa Lotos (45 PLN, -1,85%), newspaper Puls Biznesu reported.
PO would also oppose the merger of the country's largest lender, PKO (53 PLN, 0,76%) BP (8 EUR, -1,09%), and insurer PZU, the daily added.
"Orlen and Lotos should join forces while realising foreign investments, but on the local market they should compete (with each other)," said PO's Adam Szejnfeld, tipped to become economy minister if his party wins elections on Oct 21.

Talk of combining the state-controlled refiners has resurfaced in recent weeks, although the economy and treasury ministries are divided over whether to go ahead with the merger favoured by PKN but opposed by Lotos.

Szejnfeld also said PO would not push for a merger between PKO BP and PZU, which has long been a policy of Prime Minister Jaroslaw Kaczynski's cabinet but which has been blocked by a legal battle with PZU strategic investor Eureko. 

WARSAW (Thomson Financial)