Reuters reveals PKN set to win EU antitrust approval for Lotos deal; market reacts

Reuters exclusively reported that Poland’s biggest refiner PKN Orlen is set to gain EU antitrust approval for its takeover of smaller rival Lotos after sweetening concessions aimed at allaying competition concerns. State-run PKN wants to buy at least 53% of Lotos, in which Poland holds a 53.19% stake. EU competition enforcers, however, are concerned that the deal may push up prices and reduce competition in Poland, the Czech Republic, Estonia, Lithuania, Latvia and Slovakia.

Market Impact

Lotos shares rose nearly 6% following the Reuters report.

Article Tags
Topics of Interest: Deals
Type: Reuters Best
Sectors: Equities
Regions: Europe
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text