Political wranglings are likely to delay the $1bn (€916m) privatisation of Polski Huty Stali, the Polish steel company, as the period of exclusive negotiations with a Dutch bidder draws to a close.

HSBC is advising LNM Group, the Netherland's Antilles-based steel company that has been locked in exclusive negotiations with the Polish State Treasury since July 21. Sources close to the deal said most of the work on the acquisition is done but some outstanding issues were yet to be resolved.

Janine Brewis

HSBC

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Polish steel deal destined for delay

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