In Poland it is unknown why some politicians hate our giant. Be careful what you hit because Orlen is a very large entity that weighs heavily on the market, said Dr. Artur Bartoszewicz, an economist.
A group of parliamentarians from KO and Poland submitted 2050-TD a bill to freeze the prices of electricity, gas and heat for households and sensitive entities until the end of June 2024. It is assumed that the proportional limits for current consumption are maintained and that the groups under protection are maintained.
According to Wysokie Voltage, most of the costs of further freezing of energy, gas and heat prices will be covered by Orlen. The authors of the project assumed that the company would pay almost PLN 15 billion. This caused a massive crash in Orlen’s shares – on Wednesday the company lost more than PLN 5 billion in value.
On Thursday, the Ministry of State Assets sent an official letter to the Polish Financial Supervisory Authority to investigate the flows of Orlen shares on the stock exchange on Wednesday.
Orlen’s shares plummeted. ‘Investors regarded Poland as a wild country’
Dr. Artur Bartoszewicz, an economist at the Warsaw School of Economics, said on Radio Wnet that “we are dealing with a situation where something is presented in a legal act that can have a very strong impact on the state of this entity (Orlen – ed. ), so investors say: we don’t want to play with that.”
Responding to the comment that there was a leak in the press first, Bartoszewicz said: – This means that someone knew about it in advance and could have played to lower the shares.
– You have to wonder who lost. Not yet the company itself, even if the image is terrible. But beware: Orlen is weighing in, it is an important entity on the Warsaw Stock Exchange, which felt the same way. Outside investors viewed Poland as a wild country that could thus change the valuation of shares, he explained.
– This is very dangerous because the same investors may or may not buy government bonds from the government soon. Therefore, I would advise politicians not to go crazy in this area, because if they judge us as a wild country, they will also make our effects so wild – he noted.
Bartoszewicz to politicians: be careful what you hit, because it’s not just a kiosk around the corner
The economist emphasized that “if someone attacks Orlen, it means that he will also attack future retirees, because the valuation of their participation units will be lower.” – Politicians, therefore, be careful what you encounter, because this is not just a kiosk around the corner, but a very large entity that weighs heavily on the market – he added.
According to Bartoszewicz, “in Poland it is not known why some politicians hate our giant.”
– In France they love their giants. Danone is loved and none of the politicians will allow them to raise their hands against Danone. There is an economic warfare school in Paris where fifty to a hundred people are trained every year to learn how to fight in the marketplace and defend French companies. And surprisingly, some people in Poland hate Orlen, the champion who weighs heavily on the market and is capable of anything – he said.
Source: Do Rzeczy
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
