State sells stake in Unipetrol to Polish concern

The Czech state is selling its majority stake in Unipetrol to the Polish concern PKN Orlen. On Friday the Polish refinery company signed a 13-billion-crown contract with the National Property Fund and the Czech Consolidation Agency to buy the state's stake in the petrochemical company. The European Commission now has to approve the deal, which is the biggest privatisation carried out by the current Czech government.