Following a report by the British newspaper Daily Telegraph indicating a possible merger between
Poland-based
coking coal producer Jastrzebska Spolka Weglowa SA (JSW) and its Czech counterpart New World Resources Plc (NWR), JSW's CEO Jaroslaw Zagorowski has denied that the companies are negotiating over a merger plan.
According to media reports, NWR shares had risen to their highest value since February 9 due to merger speculation; however, after JSW's CEO denied merger talks were taking place, NRW shares decreased in value by 2.7 percent.