ZBP hesitant over sale of Polcard to American G-Tech

The shareholders of Polcard, a company that deals with settling credit card transactions, are close to finally reaching an agreement to sell their Polcard shares to G-Tech. Once signed, the deal would mean that the American company will control 50% of domestic credit cards transactions. However, the Polish Banking Association (ZBP) is considering blocking the deal. "We have to consult this issue with our members," said ZBP director Andrzej Wolski. If G-Tech withdraws, then a competitor of Polcard, Euronet, would be more than satisfied, as they are also on the shortlist for Polcard. Analysts, have placed the value of Polcard at around zl. 300 million, but in a few years, "The market could develop and there are many interested parties in acquiring Polcard," said Erste analyst Grzegorz Zawada. (Puls Biznesu, pp. 1, 6) M.M.