UPDATE 1-PKN to take $80 mln Q3 charge on Czech assets

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Polish fuel group PKN Orlen will book a 200 million zloty ($80 million) charge in the third quarter due to lower valuation of Czech assets which it plans to sell, a PKN official said on Thursday.

After reaching an out-of-court settlement on Wednesday, PKN's Czech downstream oil group, Unipetrol , will sell a 50-percent stake in Agrobohemie and a 38.8-percent stake in Synthesia, two chemical companies, to chemicals firm Deza.

PKN shares have fallen 8 percent to 51.25 zlotys in the last two sessions as traders said the company has been talking down expectations for third-quarter results.

The charge will not affect the operating result, but will affect the net result, PKN's planning and controlling executive director, Jerzy Pazura, said.

Deza had earlier options to buy the stakes, but after PKN Orlen bought a majority stake in Unipetrol, the Polish group refused to honour them. (Reporting by Pawel Bernat; writing by Marynia Kruk; editing by Paul Bolding) ($1=2.494 Zloty)

Keywords: PKN CHARGE/

[WARSAW/Reuters/Finance.cz]