LNM starts to enter exclusive negotiations for PHS
According to latest industry reports, LNM starts to enter into exclusive negotiations with Treasury Ministry of
Poland for the privatisation of PHS. Also, Polish Treasury Ministry is in talk with PHS creditors for the debt conversion.
LNM asks the government to hold nearly 25% stake of PHS while the company is being restructured. However, if LNM ables to buy this stake, after the restructure, the company could require to buy the government's full shareholding.
Local press reports stated that PHS considers the conversion of its debts into profit as part of privatisation process however the government may not count it as state aid.
Furthermore, LNM still wants to buy Vitkovice Steel and try to negotiate with Czech government.