July 13, 2016 / 6:16 AM / 2 years ago

Poland - Factors to Watch July 13

Following are news stories, press reports and events to watch that may affect Poland’s financial markets on Wednesday. ALL TIMES GMT (Poland: GMT + 2 hours):


UniCredit said late on Tuesday it had raised 749 million euros by placing a 10 percent stake in Polish subsidiary Bank Pekao at a 6 percent discount to the previous session’s closing price.


Commenting on Unicredit’s move, Poland’s Deputy Prime Minister Mateusz Morawiecki told state agency PAP that Poland seeks to increase the share of Polish capital in the country’s banking sector, adding state-owned lender PKO BP could not take over Pekao for competition reasons.

Separately, chief executive of Poland’s largest insurer PZU told daily Dziennik Gazeta Prawna that the company would consider taking over Pekao and Raiffeisen’s Polish unit.


Mexican fund Finaccess Capital wants to double its stake in Poland’s Amrest, which operates fast food restaurants in eastern Europe, to 66 percent, a brokerage arranging the transaction said on Tuesday.

FCapital will offers to pay 215 zlotys ($53.93) per share, or slightly below Amrest’s closing price on Tuesday of 227.3 zlotys.

****Reuters has not verified these stories and does not vouch for their accuracy.****

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