Poland approves plan for fund to support troubled miner

September 8, 2015 2:16 PM

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WARSAW, Sept 8 The Polish government approved on Tuesday a plan to transfer part of its stakes in gas group PGNiG , utility PGE and insurer PZU into an investment fund that will use them as collateral to raise cash for troubled miner Kompania Weglowa.

On Monday, the Treasury Ministry asked the cabinet to approve the transfer of a 2 percent stake in PGNiG, a 1 percent stake in PGE and a 1 percent stake in PZU to the state-controlled TF Silesia fund.

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