KNF orders FM Bank sale by April 30

The Polish Financial Supervision Authority (KNF) has ordered PL Holdings to sell its stake in FM Bank PBP no later than April 30, 2015, the watchdog said in an announcement on Tuesday. The decision stems from the fact that PL Holdings and Abris Capital failed to carry out their earlier obligations toward the KNF, the statement said. The KNF was not unanimous in the decision, with three members voting in favor, two against the motion and one abstaining.