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Report: Key shareholder looks to sell stake in Bank Pocztowy


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Report: Key shareholder looks to sell stake in Bank Pocztowy

Polish postal operator Poczta Polska, which holds a 75% majority stake in Bank Pocztowy SA, wants to sell its shares in the lender, Rzeczpospolita reported March 20.

Poczta Polska, which needs funds for investments and salary hikes, would like to find a partner that would acquire part of its stake in Pocztowy and boost its operations, according to the newspaper.

The postal operator is reportedly canvassing the market and already sent out some offers to potential investors, approaching PKO Bank Polski SA, which already has a 25% in Pocztowy, as well as Bank Pekao SA, the news report noted.

The Polish Treasury owns controlling or blocking stakes in Poczta Polska, PKO and Pekao's main shareholder PZU SA.