ING takeover of Bank Slaski will proceed regardless
The domestic subsidiary of Holland-based ING will take over Bank Slaski (BS)
regardless of the result of its offer to sell BS shares, BS head Marian
Czakanski said yesterday. In his opinion, the decision to offer the shares
for sale shows the"good will of the strategic investors towards the rest of
the shareholders." That latter group, however, holding 20% of BS shares,
feels that the price of the offer set at zl.265 per share is to low, and
they may very likely try to block the move. Czakanski stressed that neither
the government nor the State Treasury is against the merger, but the state
hasn't yet decided to sell its 5% stake. Czakanski also expressed hope that
the acquisition will help to improve client service and increase its ROR
market share from 8% to 9% this year, and to 10% later on. (Rzeczpospolita,
p.B6) M.K.
