PKN Orlen of Poland has said that will not bid for Unipetrol in partnership with MOL of Hungary (nor with Czech Agrofert).
Assuming that MOL will submit a bid for the Czech state’s 63% stake in Unipetrol, which the state intends to sell by March 2004, PKN Orlen’s announcement is somewhat surprising given its co-operation talks with MOL. It should be positive for Unipetrol stock as the number of bidders is not effectively reduced by the opting out of a prospective consortium.
Jiří Soustružník