Unicredit rips in Business Square for the second consecutive day (yesterday closed at + 6.6%) always on the rumors of the possible sale of Bank Pekao and drag upward Italian banks and Milan list. After a brief suspension for excessive upward, the title returns to bargaining and exchange rate above 2.2 Euros, with a rally at around 15 is more than 6.5 percent.
the Polish insurance group PZU, as the rumors as the first candidate to take over Pekao, has expansionist ambitions that always seem practical. Presenting an update of its strategy on the day will also be published quarterly results PZU announced that it will limit the distribution of dividends to focus on expansion. The target for an acquisition, Pzu stressed, is therefore one of the top five Polish banks in terms of assets (Pekao is the second bank in the country). Michal Krupinski, CEO of the insurance company PZU, said it would invest in the banking sector, to believe that this is the right time to invest on the Polish institutions and expect a consolidation in the country up to about 5 major banks. But no comment on Pekao.
in the meeting expected between the CEO of PZU, Michal Krupinski and head of Unicredit, Jean-Pierre Mustier, which according to rumors will be held by the end of the week in Milan the Polish Mateusz Morawiecki deputy prime Minister stressed that at present there have been no “specific talks” with Unicredit, adding that the government hopes in any case a “market solution”.
by year-end the bank that has its headquarters in Piazza Gae Aulenti in Milan will present the new business plan and it is in that context, they have said on several occasions institute leaders, who will take strategic decisions as the continuation or not of the presence in a key country like Poland. The alternative is the sale of Pioneer Pekao, which UniCredit would derive about 3 billion.
August 24, 2016 (modified August 24 2016 | 15:02)
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