Representatives of Unicredit (UCI) talk again with partners at GE Money, part of GE Capital group about selling part of BPH bank. The Italians need to sell some business as part of the merger of Pekao and Bank BPH in Poland.
“Talks stalked in the middle of July. GE had conditions UCI could by no means agree to. That’s why UCI no longer cared to continue the talks. Surprisingly, GE Money came back to negotiations”, a source close to the transaction revealed.
The comeback was so intense that the contract may be signed this week. Friday is a possible deadline because UCI is going to publish its financial results on this day.
Analysts estimate that mini-BPH is worth EUR 1-1.5 billion.