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Report: UniCredit in talks to sell ops in Czech Republic and Slovakia

UniCredit SpA is negotiating the sale of UniCredit Bank Czech Republic and Slovakia a.s., Euro reported March 27 on its website, citing banking sources.

Potential buyers interested in the unit reportedly include MONETA Money Bank a.s. and Société Générale SA together with its Czech subsidiary Komercní banka a.s. UniCredit has not yet launched an active sales process or hired financial and legal advisers, but initial negotiations with investors are already underway, Euro said.

Local experts value UniCredit Bank Czech Republic and Slovakia at between 80 billion Czech koruny and 90 billion koruny, the news report noted.

As of March 27, US$1 was equivalent to 24.83 Czech koruny.