According to an interview in Polish daily Puls Biznesu with deputy Treasury Minister, Ireneusz Dobrowolski, Polish airlines should sell the shares of Bank Pekao, as well as other non-core assets, as soon as possible to finance further investments.
Our view: PLL LOT’s AGM has recently agreed to sell a 2.1% stake (3.1m shares) in Bank Pekao. We do not expect the news to have significant negative trading impact on the stock today, as the news is known to the market, and the timing of the possible transaction remains unclear.