Minister Rusnok also said that now that the issue of supply terms in Unipetrol has been resolved, Agrofert, the Unipetrol privatization tender winner, should clearly say whether it intends to complete the privatization. The deadline for Agrofert to provide a clear indication of its intention is September 30. PKN Orlen, which recently signed a letter of intent with Agrofert toward a joint acquisition of Unipetrol, cannot enter the privatization, the minister added.
The fact that PKN Orlen will likely not be allowed to participate in the privatization leads us to believe that the privatization will ultimately be canceled. Should the market share our opinion, Unipetrol stock price could rise.
The Anti-Monopoly Office said it hopes to make a decision on Unipetrol privatization by the end of August (its deliberation began on August 1; the AMO has five months to review the matter).
Jan Hajek