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The takeover of Polish newspapers publisher Polska Press by state-run refiner PKN Orlen is legally binding despite a court's decision to suspend the regulator's approval of the deal, PKN chief financial officer said on Thursday.
By Reuters Staff
1 Min Read
WARSAW, April 29 (Reuters) - The takeover of Polish newspapers publisher Polska Press by state-run refiner PKN Orlen is legally binding despite a court’s decision to suspend the regulator’s approval of the deal, PKN chief financial officer said on Thursday.
Opposition parties say the takeover, which was approved by competition watchdog UOKiK in February, was part of the ruling Law and Justice (PiS) party’s efforts to increase its control of the media. PKN Orlen says it is a business transaction.
In April the Court of Competition and Consumer Protection suspended the UOKiK approval, following an appeal by Human Rights Ombudsman Adam Bodnar, a vocal government critic.