By Patryk Wasilewski
WARSAW--Poland's largest bank by assets, state-owned Powszechna
Kasa Oszczednosci Bank Polski S.A. (PKO.WA), would be interested in
buying smaller rival Bank Millennium (MIL.WA), PKO BP's chief
executive told the Rzeczpospolita daily Thursday.
Mr. Jagiello also said PKO BP, which recently renewed its
attempt to take over the niche Post Bank, hasn't filed an offer for
Millennium.
"Taking over a bank with a strong presence in the largest cities
and a well-developed presence among wealthy clients has a business
rationale," Mr. Jagiello said. "Millennium potentially meets all
these criteria and its takeover would end a need for further
takeovers in coming years."
Millennium, owned by Portugal's Banco Comercial Portugues S/A
(BCP.LB), has been rumored to be for sale in the past, with the
Portuguese bank even temporarily admitted its Polish arm was not an
essential part of the business.
Mr. Jagiello said there are other potential takeover targets in
the Polish market, but declined to name them.
Write to Patryk Wasilewski at patryk.wasilewski@dowjones.com
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