Decision for PHS sale is further delayed

Decision for PHS sale is further delayed

The decision on the selection of the bidder to hold exclusive negotiations with, for the privatisation of the Polish group of steel mills PHS is delayed. According to a recent declaration by the Polish Treasury Ministry the decision with this regard will be announced on July 14. The industry reports remark that offer of LNM Holdings is recommended by a government committee with the claim that same is better than that of US Steel. It is understood that the steel industry is pushing for a quicker decision as the process needs to be completed as soon as possible, with the concern of the poor financial situation of PHS.