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Poland delays deadlines for potential Lotos bids

Published 12/15/2010, 04:22 AM
Updated 12/15/2010, 04:24 AM

WARSAW, Dec 15 (Reuters) - Poland delayed a deadline to submit preliminary bids for 53 percent stake in the country's No.2 refiner Lotos until March 18, the treasury ministry announced on Wednesday.

The treasury invited all companies, but "especially ones with oil exploration operations."

Lotos, worth 4.6 billion zlotys ($1.55 billion), is part of the government's plan to sell some 15 billion zlotys in state assets in 2011 in order to support the troubled public finances.

Originally bidders had until Feb. 4 to place their preliminary offers and the ministry wanted to seal the deal in 2011, but Warsaw suddenly changed its plans and the transaction was postponed until 2012. ($1=2.977 Zloty) (Reporting by Patryk Wasilewski; Editing by Jon Loades-Carter)

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