Refile: REUTERS SUMMIT-Poland to keep stake in KGHM, control in Lotos-minister

Polski Holding Nieruchomosci SA

23/09/2013 15:58

(Refiles to fix formatting of story but no change in text) WARSAW, Sept 23 (Reuters) - Poland will not sell any of its stake in Europe's No.2 copper producer KGHM and will retain a controlling share in refiner Lotos because they are strategic assets, Deputy Treasury Minister Pawel Tamborski said on Monday. Markets had expected that the Polish government, under pressure to plug a large gap in this year's budget, would sell off stakes in both Lotos and KGHM, among the most valuable stocks in its portfolio. "We do not plan to sell more shares in KGHM in the foreseeable future. Lotos will remain under the treasury's control in the foreseeable future too," Tamborski said at a Reuters Investment Summit. Poland owns 32-percent stake in KGHM  KGH.WA  and 53 percent in Lotos, the country's second-biggest refiner.  LTSP.WA  Tamborski also said Poland plans to meet its 2014 privatisation revenues target of 3.7 billion zlotys ($1.2 billion) by selling its stakes in listed companies, since it has run out of attractive firms to float. (For other news from Reuters Russian and Eastern Europe Investment Summit, click on http://www.reuters.com/finance/summits) (Follow Reuters Summits on Twitter @Reuters_Summits) ($1 = 3.1281 Polish zlotys) (Reporting by Agnieszka Barteczko, Adrian Krajewski and Pawel Bernat; Editing by David Cowell) Keywords: EUROPE INVESTMENT/