According to reports from Poland investors interested in shares of Polmos Bialystok will have to pay the company around $150m, even though speculation is mounting that a sale will not materialise.

Reports claim that a consortium of Eckes and Vin & Spirit and Bols appear to be the only serious candidates interested in the company but according to reports Polmos Bialystok could instead end up on the Warsaw Stock Exchange (WSE).

One observer said: "The fact that Bialystok has entered negotiations with Pernod Ricard on the subject of the distribution of Zubrowka on the European market may also indicate that the producer is likely to end up on the WSE instead of in the hands of a strategic investor."

He continued: "If it were really true that strong foreign companies were interested in taking over the company they would not let a competitor get its hands on distribution rights."