Bank Handlowy purchases 4.58% stake in Pekao IPO

Bank Handlowy paid zl. 45 per share for the investment totalling zl. 283.8 million. The bank's management stated that the purchase was made to display the firm's purchasing power and the will to take over Pekao SA in the near future. "Our goal is to create the strongest bank in this region of Europe and every share counts," said Artur Nieradko of Bank Handlowy. In related news, management of the Warsaw Stock Exchange (WSE) set June 30 as Pekao SA's debut. (Rzeczpospolita, page 17, Parkiet, page 1, Reuters)