Polish Watchdog Blocks $2.6B Energa Sale

Poland’s anti-monopoly regulator has stopped the $2.6 billion takeover of state-owned power generator,Energa, byPGE,金融时报》reports. The takeover was blocked as the regulator feels it may restrict competition in the electricity market.

The Polish treasury ministry, which owns both the companies, had approved the sale of a 84% stake in Energa in September. The revenue generated by the sale was part of the government’s privatization plans to raise $8.6 billion for 2010.

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