Softbank bows to Comp Rzeszów in co-op bank sector

Softbank already owns an over 17% stake in Comp Rzeszów and has gained from it as the shares bought by Softbank for zł.94 apprehended in price to zł.114. The deal signifies that Softbank is giving up trying to directly compete with Comp Rzeszów in the zł. 300 million market for IT systems for cooperative banks and will opt for shares in Comp Rzeszów instead. "Softbank was trying to fight for these contracts through Epsilio against Comp Rzeszów. Joining forces puts these companies in a privileged and very favorable position in the cooperative banking sector," said a market watcher. Adam Góral, Comp Rzeszów's president commented, "The deal is being realized and it has vast perspectives." Should the transaction be finalized, it can be done without cash, instead of receiving Epsilio's shares Softbank would receive more Comp Rzeszów shares, thus increasing its stake in the company. (Puls Biznesu, pp. 1, 4) D.W.