Bayerische Hypo-Vereinsbank to increase stake in BPH

According to BHV board member Stephan Schueller, this operation will not require a call for a public tender. The BPH board is to retain its autonomy in managing the bank. According to the agreement signed between BHV and the Treasury Ministry, the former is to consolidate its Polish outlets with BPH in exchange for shares from a new issue. Currently, according to Schueller, the estate of Vereinsbank Polska S.A. and Hypobank S.A. is worth about zl. 400 million. BHV board president Albrecht Schmidt said BPH will remain a Polish bank, be on the stock exchange and its board will have autonomy and be responsible for results on the Polish market. (Rzeczpospolita, page 18)