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Polish Enea's takeover offer does not reflect Bogdanka's value -Aviva

WARSAW, Sept 14 (Reuters) - The offer Poland's Enea (Berlin: EED3.BE - news) submitted to buy the private miner Bogdanka does not reflect Bogdanka's real value, the miner's largest single shareholder said on Monday.

The state-run Enea (Stockholm: ENEA.ST - news) , Poland's No.3 power group offered to buy 64.6 percent in Bogdanka for 1.48 billion zlotys ($399.7 million), or 67.39 zlotys per share - 29 percent above its Friday close.

"We are analysing Enea's offer. Our first impression is that the price offered does not reflect the company's real value," said Marcin Zoltek, investment director at Aviva PTE, a Polish pension fund co-owned by Aviva (Other OTC: AIVAF - news) and BZ WBK.

Aviva controls 15.16 percent in Bogdanka. ING's local pension fund, which holds 9.6 percent, declined to comment. The third significant shareholder owned by Polish insurer PZU was not immediately available for comment. (Reporting by Agnieszka Barteczko; Additional reporting and editing by Adrian Krajewski)