Treasury shortlists two to negotiate 10.3% stake in PBK

The Treasury Ministry is holding negotiations with two investors interested in acquiring 10.3% of shares of Powszechny Bank Kredytowy (PBK). The Treasury plans to pick the investor by the end of May, but declined to name the selected bidders. Officially Bank Austria Creditanstalt (BAC) said it had made a bid. BAC is PBK's strategic investor. At present both banks are negotiating a planned merger. After that BAC would increase its stake from 43% to 48% in PBK. ABN Amro also seemed interested in the tender, but did not confirm whether it had placed an offer. BRE Bank denied local media speculation that it had bid for a share in PBK. (Parkiet, page 7, Prawo i Gospodarka, page 11) M.M.