Commerzbank to buy additional 10% in BRE Bank

Commerzbank, which controls a 50% stake in BRE Bank yesterday called for the sale of shares offering zł. 85.91 a piece. The German investor who recently received an agreement from the Commission of Banking Supervision (KNB) allowing it to increase its financial engagement in BRE Bank up to 75%, plans to purchase a stake of only 10%. Commerzbank offered the lowest price possible, as the regulations state it cannot be set below the average price, which has been traded on the Warsaw Stock Exchange during the past six months. This fact did not seem to surprise sector analysts who showed interest into why the bank is only interested in the purchase of a 10% stake, as if it decided to later buy additional shares the price would be much higher. According to Marcin Materna from the brokerage house of Bank Millennium, "not many investors will be willing to sell their stakes, as the shares are currently traded at zł. 106". (Rzeczpospolita, p. B9) A.K.