Raiffeisen seeks to finalize its stake in Bank Pocztowy

Raiffeisen Bank Polska, a Polish subsidiary of the Austrian bank, plans to conclude its negotiations on the acquisition of 33%-49% stake in Bank Pocztowy. We are going to assess the company's value and submit a specific offer. As regards its value, there are currently numerous estimates circulating on the market and what is significant is that they are quite varied. However, zl.220 million seems to be a reasonable amount, says Jeffrey B. Millikan, head of Raiffeisen Bank Polska. The whole transaction of shares would be worth zl.72-108 million, but the value of Bank Pocztowy may even amount to zl.400 million, according to insiders. If so, the Austrians would have to pay twice as much for its shares. On April 6, Raiffeisen will lose its exclusivity and that is what its competitors BNP Paribas, Nordea and Kulczyk Holding are waiting for. Allegedly, one of them has already assured the Ministry of Communications that it would offer a bigger amount of investment than Raiffeisen, regardless of the amount of the Austrians' final bid. Bank Pocztowy in fact needs investment and additional capital, and it needs it fast. (Puls Biznesu, p. 3) M. S.-C.