UPDATE 2-Lufthansa reportedly eyes LOT, Poland downplays

* Polish treasury min says privatisation has not started

* Warsaw says there are a few potential investors for LOT

* German newspaper says Lufthansa in talks to buy LOT stake

* Lufthansa has no comment

* Lufthansa shares rise 1.5 pct (Recasts, adds EU comments on Austrian Airlines takeover)

FRANKFURT, May 27 (Reuters) - The Polish government poured cold water on a report on Wednesday that Deutsche Lufthansa (LHAG.DE: Quote, Profile, Research) was in talks to buy a stake in Polish airline LOT [LOT.UL] from the government in Warsaw.

"The privatisation process has not started yet," a spokesman for the Polish treasury ministry said.

He said that there were a few investors interested in LOT, but would not comment on whether Lufthansa was among them.

German newspaper Sueddeutsche Zeitung had reported, without citing sources, that LOT Chief Executive Sebastian Mikosz and Lufthansa CEO Wolfgang Mayrhuber had met to discuss a possible takeover.