PKO BP bank believes it is the only party ready to provide stable capital
backing for the development of the bank's and Polish Post (Poczta
Polska)'s unit Bank Pocztowy, PKO BP spokesperson Elzbieta Anders said
after Polish Post said it will seek to purchase PKO BP's 25% stake in
Bank Pocztowy.
Bank Pocztowy's EGM will decide on PKO BP's takeover offer on March 14, Anders added.
The statement came in a reaction to Poczta Polska's decision to make an
offer for purchasing the minority stake from PKO BP, announced by
Poczta Polska CEO Jerzy Jozkowiak earlier.With the move, Poczta Polska apparently yet again turned down PKO BP's offer to increase bank's presence in Bank Pocztowy's shareholder structure.
PKO BP's most recent proposal to the Polish Post concerning Bank Pocztowy assumed a PLN 380 million share issue, with PKO BP to acquire PLN 290 million worth of shares and the Post - PLN 90 million, press reported mid-February. That would leave the Post with a 50% plus one share of Bank Pocztowy and PKO BP with the rest.
In December 2012
PKO BP was rebuffed in the takeover bid for the 75% stake in Bank
Pocztowy. While rejecting PKO BP's offer, the Polish Post said it hoped
to work out an agreement including an at least PLN 90 million capital increase at Bank Pocztowy.PKO BP holds a 25% stake plus 10 shares in Bank Pocztowy.
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