Deutsche Bank reselling BIG shares bought from allies

Deutsche Bank (DB) has been buying BIG Bank Gdanski (BIG BG) shares from its allies and then reselling then to Banco Comercial Portuguese (BCP). A total of 6.7 million BIG BG shares, 1.5% of the bank's share capital, changed hands. The volume of shares being traded, which presumably surpass DB's officially held stakes in the firm, has prompted analysts to assert that DB was reselling the shares to BCP for a profit. DB was taking advantage of a deal with BCP in which the latter promised to pay a large sum for the shares as long as it retained the majority stake in BIG BG. As DB has not yet sought permission from the Banking Supervisory Commission (KNB) to exceed 20% of voting rights at BIG BG, the remaining shares will be sold later. The shares could also either be sold to the pan-European insurer Eureko or to any of BCP's allies. (Prawo i Gospodarka, page 11, Puls Biznesu, page 3, 27) S.M.