PM pledges more nationalisation of 'Polish assets'

Polish Prime Minister Mateusz Morawiecki visiting Kasprowy Wierch cable car in Poland’s Tatra mountains on October 9, 2018. Photo: PAP/Grzegorz Momot

Polish Prime Minister Mateusz Morawiecki pledged further nationalisation of the country’s foreign-owned assets after Poland bought back its iconic mountain cable car on Tuesday.

Poland buys back heritage cable car

Poland has agreed to buy back its iconic mountain cable car operator PKL from private equity fund Mid Europa Partners for an undisclosed sum.

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“We’ll focus on buying Polish assets, Polish products and re-polonisation,” said PM Morawiecki on Tuesday.

Poland has agreed to buy back its iconic mountain cable car operator PKL from private equity fund Mid Europa Partners for an undisclosed sum. The cable car company will be purchased by state-run fund PFR.

“We have fulfilled our obligation and, as promised, such great investments as the cable car must be in the domain of the Polish state,” Polish PM said.

The Law and Justice (PiS) ruling party leader Jarosław Kaczyński had earlier said that PKL, which runs the famous Kasprowy Wierch cable car in Poland’s Tatra mountains, should come back into Polish hands.

“Jarosław Kaczyński announced that the cable car should return to the Polish state,” he said.

Poland’s government has argued that the country is too dependant on foreign investors, who bought into Polish assets in the 1990s and 2000s.

“Our predecessors during their eight-year rule sold out not only Polish cable car company, but other Polish assets worth about PLN 50-60 bn,” PM Morawiecki said during his visit to Kasprowy Wierch cable car in the mountains.

“We do not have to do this because we are effectively fighting the VAT mafia, effectively fighting with criminals who robbed the Polish state for eight years,” he added.

The fund is the latest deal by the Polish state to buy back foreign-held assets, including banks, a bus manufacturer, a shipyard, and energy companies.

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