EU antitrust regulators to warn PKN about its Lotos bid - sources
Reuters
Published Mar 30, 2020 13:55
WARSAW/BRUSSELS (Reuters) - European Union antitrust regulators will in coming days warn Polish oil refiner PKN Orlen (WA:PKN) that its bid for rival Lotos (WA:LTSP) could harm competition, people familiar with the matter said on Monday.
The warning, via a statement of objections which sets out the European Commission's concerns, could be sent as early as this week, the sources said.
State-run PKN is prepared to offer concessions to address the EU competition enforcer's worries, one of the people said. The companies own the only two refineries in Poland and are also present in the Czech Republic, Estonia, Latvia, Lithuania and Slovakia.
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Written By: Reuters
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