September 25, 2012 / 10:39 AM / 6 years ago

Poland says may cut stake in miner JSW to 34 percent

WARSAW (Reuters) - Poland could cut its stake in the European Union’s largest coking coal miner, JSW (JSW.WA), to a little more than a third without losing control of the group, its deputy treasury minister said on Tuesday, signaling a looming stake sale.

The treasury, which oversees state assets, currently holds 56 percent in JSW, but would have to agree any sale with the economy ministry, which has a final say in the mining industry.

“In our opinion, and that’s the discussion we’ve launched with the economy ministry, 34 percent would be enough for the treasury to control the situation among (JSW) shareholders,” Pawel Tamborski told TVN CNBC channel in an interview.

At 1026 GMT, shares in the miner were down 1.3 percent against a 0.3-percent rise in the country’s large-cap index WIG20 .WIG20.

Reporting by Adrian Krajewski; Editing by Mark Potter

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