Warsaw (Puls Biznesu) – The Ministry of the Treasure is going to help Unicredito fulfill the privatization agreement signed at the acquisition of Pekao. It will call on the Italians to sell Bank BPH.
The Ministry of the Treasure is not delaying the acquisition by Unicredito Italiano of Bank BPH. This was one of European Commission’s allegations to which the ministry replied yesterday.
“We are not questioning the competences of the European Commission which decided over the merger of UCI and HVB and its influence on competition. But in Poland, we have the national authorities running complicated proceedings over consequences of UCI’s getting control over BPH and a possible merger of Pekao”, Pawel Szalamacha, deputy Minister of the Treasure explained.
He stressed that the government wants the Italians to respect the privatization agreement signed when they bought Pekao. According to the cabinet, it forbid UCI to buy any other bank in Poland. EC experts point out that the document was signed in 1999 when Poland was not an EU member.
“We are still asking lawyers but we are convinced that the agreement is in accordance with EU legislation and should be objected”, Pawel Szalamacha said.
He added that the ministry wants UCI to abide the law.
“One of European commissioners asks whose case are we for: private or public. We fight for EU basic right to fulfill promises given in agreements. We will help Unicredito Italiano keep to the agreement”, Pawel Szalamacha promised.
The Ministry of the Treasure does not care who will buy Bank BPH shares.