WBK up for grabs

4th June 2010

The sale of WBK has aroused interest from foreign firms

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The prospect of a buying a big chunk of Bank Zachodni WBK has created a stir on the markets with interest coming from both home and abroad.

Up to 70.4 percent of Poland’s fifth biggest bank is expected to hit the market following a decision by Allied Irish Bank (AIB), WBK’s owners, to sell.

The newspaper Rzeczpospolita claims that the bank PKO has WBK in its sights and had already hired investment bank Credit Suisse to help it prepare for the acquisition. It quoted Zbigniew Jagiello, PKO BP’s CEO, as saying that hiring investment banks was “a permanent feature of building PKO BP's position as the national champion”.

PKO may lead a consortium that could include PZU, Poland� ...

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