FRANKFURT, Germany, Feb. 13 (UPI) -- Poland's plan to privatize the Warsaw Stock Exchange goes against EU rules, the International Herald Tribune reported Tuesday.
The government would keep a controlling 51-percent stake, while the remaining shares would be sold to Polish investors in blocks of 5 to 10 percent, the newspaper reported from Frankfurt.
However, if materialized, the plan would conflict with EU rules and standards that demands the same treatment for all union's members, the Tribune said.
Earlier this year Polish Treasury Minister Wojciech Jasinski said the government plans to ban foreign firms from purchasing companies listed on the exchange, so the exchange would retain "its Polish character."
Jasinski said the government wants to complete the plan in the next two years.
An EU official said Brussels has not been informed about the Polish government's plan. Jasinski himself refused to comment on the plan.
Jasinski's spokeswoman said much work still has to be done before the Warsaw stock exchange is prepared for privatization, the Tribune said.
