Ministry of the Treasury prepares reply to EC on UCI

APA - Austria Presse Agentur
opublikowano: 17-01-2006, 16:55

Warsaw (Puls Biznesu) – The Polish government have only 10 days to reply to the European Commission why they have not allowed UCI to control Bank BPH yet.

Warsaw (Puls Biznesu) – The Polish government have only 10 days to reply to the European Commission why they have not allowed UCI to control Bank BPH yet.

Jonathan Todd, the spokesman of the European Commission (EC), said yesterday that EC demanded the Polish government to explain why they block the merger of Pekao and BPH owned by Italian Unicredito (UCI). The Polish government have till January 23rd to give its response.

“We are getting acquainted with EC’s accusations. We are analyzing their arguments and we will surely answer them”, Barbara Kasprzycka, the spokeswoman of the Ministry of the Treasure, said.

Jonathan Todd reminded that the merger of Pekao and Bank BPH was approved of by EC in October.

“EC believe that the merger will not disturb competition because there are many other entities in the Polish market owned by international investors”, Jonathan Todd added.

Brussels want to know why the Polish authorities delay their approval quoting a privatization agreement of Pekao signed in 1999, long before Poland’s EU accession. The Ministry of the Treasury accused UCI for breaking the provision forbidding it to invest in Pekao’s rivals by acquiring control over Bank BPH.



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Podpis: APA - Austria Presse Agentur


Inspiracje Pulsu Biznesu


Puls Biznesu

Inne / Ministry of the Treasury prepares reply to EC on UCI