Deutsche Bank put on hold over BIG Bank Gdanski stake

The next KNB meeting when the matter may be discussed is slated for Sept. 7. BIG Bank Gdanski shares soared 10% on Monday on the expectation permission would be granted. Last week BIG Bank Gdanski sold a 12.6% stake held by its subsidiaries to Portugal-based Banco Commercial Portugues and European insurance firm Eureko BV. In related news, the British daily Sunday Telegraph revealed that the consortium of BIG Bank Gdanski and insurer Eureko will purchase Polish insurer Powszechny Zaklad Ubezpieczen S.A. (PZU) paying above its real value. According to the newspaper PZU holds about a 17% stake in BIG Bank Gdanski. By acquiring PZU the consortium is defending against being acquired by DB. Adam Taukert, PZU spokesman denied the rumors. The Treasury Ministry is to select the potential investor for PZU in October. (Rzeczpospolita, page B3, Prawo i Gospodarka, page 1)