BGB likely to sell Inteligo to PKO BP as BRE Banks pulls out of talks

According to Rzeczpospolita bank PKO BP is the sole investor willing to buy Inteligo, an internet based bank, after BRE Bank, the owner of mBank withdrew its offer. Inteligo and Bank Gesellschaft Berlin Polska (BGB) are for sale due to the problems of the parent company in Germany. The lack of serious offers to buy BGB Polska encouraged the Germans to look at the possibility to sell Inteligo separately, against their initial statements that the deal cannot be split. It is probable PKO BP will buy the Inteligo virtual bank. BGB is one of the smallest banks, which focused on servicing German companies operating in Poland. BRE Bank is reported to have withdrawn from its initial plan to buy Inteligo because it is technically very difficult to merge the IT system of its mBank with Inteligo's. PKO BP wants to expand its small (30,000 strong) group of on-line clients and the takeover would allow it to capture Inteligo's 160,000 clients with deposits of zl. 390 million. (Rzeczpospolita, p. B1) P.W.