Bids for Polish PHS are due by February 10, 2003
For the privatisation of the Polish steel holding company Polski Huty Stali (PHS) to take place next year, the latest reports reveal that Russian steelmaker
Severstal is also willing to make a bid. For the moment it is not clear whether
Severstal will make a bid alone or jointly with another party, however it is stated that it is most likely that the bid comes from
Severstal alone.
Meanwhile, depending on the conditions of the information memorandum sent by the Polish Government to potential bidders, Arcelor also states its interest to make a bid for PHS as well.
Until today, the most likely companies to make competitive bids have been regarded as LNM Holdings and
US Steel. Besides, ThyssenKrupp Stahl AG, Arcelor and Corus are also known to be interested to take part in the bidding. The deadline to submit the bids is February 10, 2003.