Polish railways privatisation in October?
PR dla Zagranicy
Nick Hodge
27.08.2013 12:43
A deal providing guarantees for railway workers may pave the way for the privatisation of Polish State Railways' freight company (PKP Cargo) this October.
PKP Cargo: wikipedia
According to the Dziennik Gazeta Prawna daily, the board of PKP Cargo is due to sign an agreement with railway workers on 29 August.
The PKP Group wants to sell a 50 percent stake in its freight company, which is the second largest cargo carrier in Europe. The debut on the stock exchange is planned for 17 October.
In July, railway workers had threatened to go on strike if their demands were not met. Among the demands is a guarantee of job security for at least six years.
The PKP Group is currently in the process of privatising several of its companies.
The group unveiled privatisation plans in November 2012, with the necessity of covering debts of 4.3 billion zloty (1 billion euro).
The first sale to be made was that of its cable-car wing Polish Cable Lines (PKL), in May 2013. (nh)