Today is deadline for preliminary bids for 100% Unipetrol’s stake in Kaucuk, focused on petrochemical production. According to Euro OnLine server 26 bidders have already expressed they interest. As we previously informed, the sale is in line with PKN’s strategy to spin off businesses which are not directly related to its main production line, i.e. oil refinery. Our rough estimation of Kaucuk’s value totals some CZK 2bn, based on comparative multiples of its peers and Kaucuk’s 1H05 results. We regard the news as neutral for today’s trading with Unipetrol.