Watchdog extends term for Alior Bank sale

The Polish Financial Supervision Authority (KNF) has extended the deadline for Carlo Tassara to sell its shares in Polish lender Alior Bank to June 30, 2016, the watchdog said in a statement issued on Monday. Before the final sale, Carlo Tassara is obliged to keep a holding of at least 25 percent in the bank. The financial group was originally obliged to find a strategic investor for Alior Bank and sell its 34-percent stake by the end of 2013. The deadline was later extended until December 31, 2014.