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Poland's PGE won't appeal against court decision on Energa
June 5, 2012 / 5:02 PM / in 5 years

Poland's PGE won't appeal against court decision on Energa

WARSAW, June 5 (Reuters) - Poland’s state-controlled PGE will not appeal against a decision by Poland’s competition watchdog forbidding a purchase of its smaller rival utility Energa, the company said in a statement on Tuesday.

The 7.5 billion zloty ($2.13 billion) merger, agreed in January 2011 as part of Poland’s ambitious privatisation plan, was rejected because it would boost PGE’s already dominant position in power generation. ($1 = 3.5188 Polish zlotys) (Reporting by Dagmara Leszkowicz)

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