Deutsche Bank closer to BIG BG after KPWiG decision

"Deutsche Bank (DB) did not break the law during the process of acquiring BIG Bank Gdanski (BIG BG)," stated the Securities and Stock Exchange Commission (KPWiG) on Friday. In its proceedings, KPWiG analyzed whether DB broke the law by proposing to acquire 25% of shares in BIG BG. The decision is advantageous for companies cooperating with DB and opposing BIG BG's current management board. However, there are still unresolved cases in court, including the resolution of the general shareholders meeting on February11 of this year when DB introduced its members to the BIG BG board. Recently, DB managed to decrease the voting rights of Banco Comercial Portugues and Eureko, which support the current board. Despite the advantages of a large foreign investor, BIG BG will not stop its fight for independence. In the near future the Polish bank plans to file a complaint against the court's decision. (Prawo i Gospodarka, May 13-14, pages 1,10) M.M.