Rumors that UniCredito to take over HVB gather stream

The fusion might mean the emergence of a large bank on this country's market that would pose tough competition to the largest bank - PKO BP. A Merrill Lynch analyst who wrote in his recent report that HBV might undergo a take over still this year emphasized the rumors. He also recommended to buy the company's shares, setting their final price at EUR 22 (the current value is around EUR 17). Other Polish banks have decided not to comment on the merger rumors. If the take over goes ahead it will create a new institution which would surmount the assets of PKO BP by one third and it would have more branches. However, many analysts are skeptical about the idea, saying that it will only remain a concept on paper. (Parkiet, p. 1) D.W.