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Poland to reduce stake in Lotos to about 28%

Poland plans to cut its holding in the country’s second largest refiner Lotos to around 27.5% from 58.8% now, Treasury Minister Aleksander Grad said on Wednesday.

“We will continue the privatization process of Lotos ... we will reduce the state’s stake to a similar level as we have at PKN Orlen (27.5%),” Grad said. (Reuters)