Possible breakthrough achieved in BPH-Pekao merger deal

According to the source, a breakthrough in negotiations was achieved during last week's visit of Alessandro Profumo, head of Unicredito, to Poland. "Negotiations with the Commission regard, among other things, the level of employment and reaching a compromise thanks to which not all departments will be centralised in Warsaw. This is about the highest possible limitation of redundancies," said the source. The potential merger of the two banks will be carried out based on BPH taking on the structure of UCI. Negotiations with KNB are aimed at ensuring that BPH will support BA CA in running affairs in the CEE by controlling banks in Balkan states and Ukraine. (Puls Biznesu, pp. 1, 6) M.M.