PKO BP submits failed bid to buy Baltics Luminor - Reuters

WSE-listed, state-owned lender PKO BP made an offer to buy Luminor, a Baltic peer, and is interests in buying other banks in the region, according to Reuters. The offer was rejected, Polish bank denied submitting any offers. “PKO Bank Polski has never submitted an offer to buy Luminor, neither has it expressed an interest in buying it. The bank is not conducting any actions aimed at taking over any other banks in the Baltic states,” PKO said in a statement. Luminor was established last month by DNB and Nordea. It has over 1.2 million customers, €17 billion in assets, and is the third biggest financial services provider in Baltics. According to Reuters, its value is estimated at €1.6 billion. Reuters claims that two separate sources confirmed the story. “PKO said it does not want to grow its operations here from zero. They’ve talked with Luminor about the acquisition but received absolutely no interest,” one of them said.