UniCredit considers selling Czech and Slovak divisions

The bank has not yet confirmed the rumours.

UniCredit Bank branch in BratislavaUniCredit Bank branch in Bratislava (Source: SME)

Italian financial group UniCredit has launched negotiations on selling its Czech and Slovak divisions. In case of successful transaction, UniCredit would gain more than 90 billion Czech crowns (some €3.3 billion), the SITA newswire reported.

Among the potential bidders are Société Générale and its Czech subsidiary Komerční Banka and Moneta Money Bank, according to the weekly Euro.

The sale of UniCredit’s divisions would become the biggest transaction in the history of Czech banking. So far, the biggest acquisition was the privatisation of Komerční Banka in 2001. Société Générale paid 40.2 billion Czech crows for a 60-percent share.

“It is our good habit not to comment on any speculations,” said UniCredit spokesperson Andrea Morawski, as quoted by TASR.

Though the Italian group has not launched any sale nor has it recruited a financial and legal advisor, it started initial talks with the potential bidders, TASR reported.

Experts say that the merger of Komerční Banka and UniCredit Bank would make sense as the former cannot grow anymore and the only possibility for growth is to take control over its rival.

The representatives of the bank, however, refused to comment on the information, TASR wrote.

Get daily Slovak news directly to your inbox

Theme: Finances and Advisory

Read more articles by the topic

Top stories

News digest: Nationwide testing gained contours

The Defence Ministry reveals details on upcoming testing, removal of the STU rector was far from normal. Take a look at our latest news digest.

President Zuzana Čaputová meeting with scientists and experts on epidemiology, infectology and medicine.

Senate voted STU rector down. Police called to the uni as well

The session of the Academic Senate proposed that Rector Fikar be dismissed.

Miroslav Fikar

Dozens of people die of COVID every day. A drop not expected for at least two weeks

People who would otherwise survive may die of other serious diagnoses due to the epidemic.

Illustrative stock photo

Volunteering in developing countries is an adventure from beginning to end

Slovak Jozef Baňás spent 12 months volunteering in Georgia.

Jozef Baňás