Poland’s PKN upholds plan to buy Lotos, awaits further EU decisions

WARSAW (Reuters) – Poland’s biggest oil refiner, the state-run PKN Orlen , upholds its plans to take over its smaller rival Lotos and awaits further decisions by the European Commission regarding the deal, PKN Chief Executive Daniel Obajtek said on Monday.

“The process is in line with schedule, we are waiting for the Commission decisions and we will observe them. We do not step away from this process,” Obajtek told a video conference.

Earlier on Monday sources said that EU antitrust regulators will in coming days warn PKN Orlen that its bid for Lotos could harm competition.

(Reporting by Agnieszka Barteczko)