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Poland’s PGE Sees Takeover Targets Abroad

Polish utility PGE is seeking potential takeover targets abroad.

Polish utility PGE is seeking potential takeover targets abroad, Reuters reports. It is looking at targets with as much as $6.6 billion at hand, said Tomasz Zadroga, CEO of PGE.

The state-controlled utility currently has $166.7 million in cash, but will also add the remaining money from the sale of Polkomtel. The group is also seeking regulatory approval for its $2.49 billion takeover of local rival Energa.

Click here for the story from Reuters.

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