Poland’s Treasury Ministry announced it would have to withdraw from the Lotos privatization, that was planned for later this year. The process of the second largest state-owned refiner sell off started last year and was one of the most anticipated privatizations in Poland. The decison to abandon the sale has been forced by the company’s weak results, but the state is expecting to come back to it in two years. The treasury currently holds a 53 percent stake in the company.
