Alternatively, the merger of PKN Orlen, Lotos and PGNiG would not benefit – says Janusz Steinhoff. Meanwhile, stocks go up.
On the other hand, in the opinion of Wojciech Jakóbik, under certain conditions, consolidation could lead to effective competition on the European market.
On the day of announcement idea, but trading stocks PKN Orlen gained in value, the other companies were losing. But today, on Tuesday, listing three companies definitely go up. PKN Orlen gained 2.5 percent. Grupa Lotos 5.54 percent. PGNiG and 4.37 percent.
The Treasury started analytical work on the merger of PKN Orlen, Lotos and PGNiG
He informed journalists on Monday the Minister of State Treasury Dawid Jackiewicz, MSP has begun analytical work on the idea of merger of PKN Orlen, Lotos and PGNiG.
He announced that by the end of the first quarter resort will determine initially whether such a combination would make sense.
the State Treasury: it is harder to take over a big company
He explained that first of all it is about safeguarding the interests of the State Treasury in these companies against possible attempts at a hostile takeover.
̶ will also they wondered what potentially are to achieve synergies, “- he stressed. He said he has no plans to withdraw these companies from the stock exchange.
Janusz Steinhoff misjudge the idea of a big merger
̶ definitely negatively evaluate the idea. It is not the right concept of safeguarding the interests of the treasury against a hostile takeover. I think they are equally effective (ways), and less harmful to the market – told PAP b. Deputy Prime Minister and Minister of Economy Janusz Steinhoff.
The resulting company zmonopolizowałby fuel market
̶ I do not see the synergies that would be adequate to market losses – he added. In his view, the merger of Orlen and Lotos would agree to the Office of Competition and Consumer Protection. “I can not imagine an entity that, given the 80 percent. Wholesale fuel market, it would be acceptable to the OCCP – he said.
̶ Such a merger may some minimal synergy to give, but this synergy would result from a dominant position on the market with all the resulting consequences for consumers and for the competitiveness of the economy “- said the former deputy prime minister.
In his opinion, it would be difficult to agree on the merger of the minister of development, but from the point of view of the companies may be rational.
̶ but not the interests of the government in terms of companies, but the development of the economy. The Minister of Treasury may this concept generate, but at least I, as minister of economy I would never have agreed, “- he concluded.
Wojciech Jakóbik: a good idea, but if the consolidation will strengthen the competitive company
̶ it would be a good idea, provided that it will lead to more efficient work of these entities into a single body, that is, if consolidation will lead to effective competition on the European market, the world market. in the era of cheaper oil trend for mergers is very visible, you can see it among the greatest players who consolidate on the market because the money is less and less, and to deal in these difficult conditions, join forces, “- said the PAP Wojciech Jakóbik, an analyst at the Institute of the Jagiellonian editor-in-chief biznesalert.pl. He noted that this trend is visible among in the US market.
Wieslaw Jakóbik says that may change a great fusion
ZR. Chief editors of Commerce Polish Radio
It would be easier to look for shale gas
̶ Perhaps merger wpisywałaby this trend. In the arena of regional Poland could have such a champion, that would be even stronger than, for example. PKN Orlen, which is the first company in the region. With the support of Lotus, with the support of PGNiG have enough assets could be active, for example. We could quickly look for shale gas. Now they do it separately, PGNiG, Orlen and Lotos also marine deposits, perhaps consolidation would mean that it has to be faster – he added.
̶ If the Treasury has reasonable concerns about the hostile takeover, and remember that there were such attempts in the case of the Group Azoty (…), perhaps this is actually a way to protect against the threat, which sees Treasury “- noted Jakóbik.
May but did not rise again, lumbering behemoth
He added that the consolidation will be a threat, if it will lead to a” ponderous juggernaut that has blown resource personnel, unjustified privileges of workers. “
̶ And by then it will become yet another burden for the Polish budget – he said. He noted that when a new entity” groziłby fate Coal company. “
The reaction of investors on the Stock Exchange on the announcement of the Minister
on Monday, approx. hours. PGNiG 15.00 shares on the Warsaw Stock Exchange got cheaper by 2.32 per cent. Value of the gas company’s market was pricing at 4.66 zł. Lotos shares also got cheaper – about 0.88 percent. – Value of the company was valued at 25.95 zł. Prices rose for 0.45 percent. PKN Orlen – you had to pay 63.65 zł.
The situation reversed in August on the second day – three companies trading day after the announcement of going far up. PKN Orlen gained 2.5 percent. Grupa Lotos, PGNiG 5.54 pointa 4.37 percent.
PAP, jk
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