According to the MFDnes daily, the privatization advisor (the consortium of McKinsey&Company, West LB and EEIP) reportedly intends to recommend all six bidders to be short-listed; the privatization committee should decide on the short-list this week. The newspaper also disclosed a full list of indicative bids, but without clarifying whether these are only for equity or also for Unipetrol's CZK 4bn debt.
Offered price (CZK bn)
Royal Dutch/Shell 11-13
PKN Orlen/ConocoPhillips 9-10
Separately, Russian Gazprom would like to make a late entry in the Unipetrol privatization, Reuters reported on Friday. However, it is unlikely to be allowed to join the tender as a lead bidder, but may be able to team up with other short-listed bidders.
While the Cabinet expected privatization to be completed by the end of March 2004, some investors reportedly require more time for due diligence. (Reuters)