Poland’s biggest power firm PGE may consider selling its telecom business as part of a divestment plan designed to cope with rising CO2 emission costs and tough competition, Puls Biznesu quoted Chief Executive Marek Woszczyk as saying on Wednesday. <\/p>\n
The state-run group posted a net loss of 5.06 billion zlotys ($1.3 billion) in the first half of 2015 because of a record 8.8 billion zlotys impairment charge related to its lignite coal assets. <\/p>\n
The company plans to launch a cost-cutting programme and to review its investment plans. It is also considering divestments, Puls Biznesu said. <\/p>\n
“This would apply to the company’s non-core assets … for example the telecom ones,” the paper quoted Woszczyk as saying. <\/p>\n
PGE controls telecom operator Exatel, which sources said earlier the power company could transfer to a special state-owned fund FIPP, partly designed to help troubled mining group Kompania Weglowa. <\/p>\n
Some experts say selling Exatel could be difficult as the telecom operator provides services to government departments, which makes it a strategic asset for the country. <\/p>\n
PGE previously tried to sell Exatel but the former management board dropped the plan in 2012.<\/p>\n","protected":false},"excerpt":{"rendered":"
Poland’s biggest power firm PGE may consider selling its telecom business as part of a divestment plan designed to cope with rising CO2 emission costs and tough competition, Puls Biznesu quoted Chief Executive Marek Woszczyk as saying on Wednesday. The state-run group posted a net loss of 5.06 billion zlotys ($1.3 billion) in the first half of 2015 because of a record 8.8 billion zlotys impairment charge related to its lignite coal assets. The company plans to launch a cost-cutting programme and to review its investment plans. It is also considering divestments, Puls Biznesu said. “This would apply to the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[132],"tags":[],"class_list":["post-31671","post","type-post","status-publish","format-standard","hentry","category-power"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/31671","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=31671"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/31671\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=31671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=31671"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=31671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}