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Rzeczpospolita - Poland | Wednesday, November 10, 2010

Warsaw Stock Exchange a symbol for privatisation

The share value of the Warsaw Stock Exchange (GPW) rose 25 percent as soon as it went public on Tuesday. This success is symbolic of the completion of the privatisation process in Poland, writes the conservative daily Rzeczpospolita: "Investors have valued the Warsaw Stock Exchange at around two billion złoty [roughly 510 million euros], placing it 40th among listed Polish firms. Moreover the Stock Exchange has no additional private investors. In future the treasury minister will still have a majority vote at the general shareholders' meeting, although he will no longer possess the majority of preferred shares. The listing of the GPW is above all a symbol. Now the only businesses that remain to be sold are those which have problems, like the mines or the railway company. Good state-owned enterprises have either already been sold to investors (like the mobile telephone company Polkomtel) or they will remain in the hands of the Treasury Ministry (like energy and raw materials)."

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