BZ WBK files DB Securities takeover motion to UOKiK

WSE-listed lender BZ WBK filed an application to takeover DB Securities to the antitrust watchdog UOKiK. “Bank Zachodni WBK SA based in Wrocław intends to purchase a separate part of Deutsche Bank Polska SA based in Warsaw and take sole and direct control over DB Securities SA based in Warsaw (DB Securities),” UOKiK said in its release. Back in December, BZ WBK signed a PLN 1.3 billion deal to acquire 100 percent stake in DB Securties which includes retail and private banking as well as services tailored to SMEs. The transaction is set to be completed in Q4 this year, pending, among others, UOKiK approval.