State-Owned Companies May Be Ruled out from PKP Cargo Privatization
OREANDA-NEWS. August 23, 2010. While the consultancy company McKinsey has already started its work on providing advisory services for the privatisation of the state-owned rail freight operator PKP Cargo, the search for a private investor for the company will only begin next year.
In September, McKinsey is due to publish its recommendations on the form of PKP Cargo's privatisation. According to Maria Wasiak, the Deputy President of the state rail holding company PKP SA, the privatisation of PKP Cargo could involve the sale of a majority or a minority stake to begin with. Wasiak also stated that a real private investor will be sought for the company, and not another state-owned company, which may rule out DB Schenker, the freight subsidiary of German rail operator Deutsche Bahn, or French rail group SNCF, according to Logistics Finland.
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