The Polish authorities have received two binding bids for the vodka producer Polmos Zielona Gora, one from Sweden's Vin & Spirit and the other from a consortium of Polish alcohol distributors, the Polish press reported today.

This is the third attempt to sell off Zielona Gora, the third largest state-owned distillery in Poland which controls around 8% of the Polish spirits market.

It is believed the bids failed last year because the Polish authorities overestimated the value of the operations. The State Treasury, it is thought, had valued the business at ZL300m. Sources today were quoted as saying the Polmos is worth closer to ZL70m.

The Polish Treasury Ministry has invited bids for at least a 51% stake in Zielona Gora.