Rabobank wants to give up on merging its Polish units
March 6, 2014
Dutch banking group Rabobank wants to be relieved of the duty to merge its Polish units Rabobank Polska and BGZ so that it can continue operations in Poland after BGZ is sold to BNP Paribas, BGZ CEO Jozef Wancer told reporters on Wednesday.
"Rabobank filed a motion with the financial market regulator KNF to prevent that transaction, so that Rabobank can continue its business operations in Poland via Rabobank Polska and so that the sale of BGZ to BNP Paribas can take place," Wancer said.
BNP Paribas is to purchase 98.5% stake in Bank BGZ for PLN 4.2 billion or some EUR 1 billion, the banks said in early December 2013.