Unipetrol could be privatized by spring 2002, according to the deputy minister of industry, Milada Vlasakova. She wants a strategic investor to be selected by the end of 2001, and the sale to be completed at the beginning of 2002. The Ministry of Industry wants to sell Unipetrol as it is to a strategic investor, while the Ministry of Finance wants to break it up into smaller businesses prior to a sale, believing that selling Unipetrol as a whole is not appropriate. The two ministries have not agreed on the method, but they have agreed on choosing a privatization adviser soon. The prospect of Unipetrol privatization possibly moving ahead in the near future could help the stock somewhat. Patria’s recommendations are long-term buy, short-term accumulate, our target price is CZK 78 per share.
(Ondřej Daťka)