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Polish billionaire mulls selling stake in developer Echo - paper
July 2, 2014 / 5:46 AM / 3 years ago

Polish billionaire mulls selling stake in developer Echo - paper

WARSAW, July 2 (Reuters) - The fourth richest Pole Michal Solowow wants to sell his entire 45 percent stake in real estate developer Echo Investment, Puls Biznesu daily reported on Wednesday, citing several sources.

The stake is worth 1.2 billion zlotys ($394.3 million).

“London’s Citibank was mandated to prepare the sale of the Echo stake,” an unnamed source said, while Solowow declined to comment, according to the report.

Echo’s spokesman was unavailable for comment on Wednesday morning. ($1 = 3.0436 Polish Zlotys) (Reporting by Marcin Goclowski; Editing by Gopakumar Warrier)

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