Sberbank Eyes Polish Units Of KBC, Banco Comercial Portuges-Report
23 August 2011 - 5:30PM
Dow Jones News
Russia's biggest bank, OAO Sberbank (SBER.RS), is eyeing the
Polish banking units of Belgium's KBC Group NV (KBC.BT) and
Portugal's Banco Comercial Portuges (BCP.LB), Kommersant reports
Tuesday.
Sberbank is looking at the possibility of buying Poland's Kredyt
bank, controlled by KBC, and Bank Millennium, controlled by Banco
Comercial Portugues, the newspaper said, citing unidentified
investment bankers.
Sberbank on Tuesday declined to comment on particular
acquisition targets, but a spokesman reiterated its focus on
growing in eastern and central Europe. In July, Sberbank said it
agreed to buy most of Volksbank International AG, the eastern
European arm of Oesterreichische Volksbanken AG (VBPS.VI).
KBC Group declined to comment to Kommersant, and Banco Comercial
didn't answer a request for comment to the newspaper.
Newspaper Web site: www.kommersant.ru
-By Moscow Bureau, Dow Jones Newswires; +7 495 974 8026