PZU eyes Alior Bank

Poland's largest insurer PZU is interested in purchasing a 25-percent stake in Alior Bank which has been put up for sale by French private investor Carlo Tessara, Puls Biznesu daily reported. "PZU is running a due diligence (audit) on Alior," said one of the daily's anonymous sources. According to the daily, Michał Witkowski, PZU spokesman did not want to comment on the news, but he said that, "PZU is ready to take part in some acquisitions, in banking as well, for instance financing the transactions. The basic condition is that the final transactions will create value for shareholders of our firm." Tessara is obliged to sell his stake in Alior by June 2016, but he would like to get rid of it sooner in order to settle with his creditors in Italy, Puls Biznesu pointed out. France's Societe Generale, Eurobank owner is also interested in the holding.