Bloomberg News

Poland Says KGHM Plan to Take Over Quadra ‘Interesting Idea’

December 06, 2011

(Updates with KGHM comments in third paragraph.)

Dec. 6 (Bloomberg) -- KGHM Polska Miedz SA’s plan to buy Canada’s Quadra FNX Mining Ltd. is an “interesting idea,” Maciej Wewior, a spokesman for the Treasury Ministry, said by phone today.

The ministry, KGHM’s biggest shareholder with a 32 percent stake, will look “closely” at the transaction, Wewior said.

KGHM, Poland’s sole copper and silver producer, has already received all necessary approvals from its corporate structures, Dariusz Wyborski, a spokesman for the company, said by phone today.

--Editor: Nathaniel Espino

To contact the reporter on this story: Pawel Kozlowski in Warsaw at pkozlowski@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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