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krystian
Święta Polska Webmaster
Inscrit le: 30 Déc 2005
Messages: 2363
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 Italian UniCredito's Poland bank merger plan continues to st
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Italian UniCredito's Poland bank merger plan continues to strain Poland-EC relations
WARSAW. FEBRUARY 21. INTERFAX CENTRAL EUROPE - Italian bank UniCredito's
plans to merge Poland's second-and third-largest banks continued to
strain relations between the Polish government and the European
Commission (EC) Tuesday, with the Polish PM saying the conflict with
UniCredito could only be regulated by the court.
"We have an agreement with UniCredito and it is not an agreement that
could be regulated by anyone, except the court," Prime Minister
Kazimierz Marcinkiewicz told reporters Tuesday.
Marcinkiewicz was commenting on criticism of Poland by EU Internal
Markets Commissioner Charlie McCreevy, reported earlier Tuesday.
Poland's response to the commission's request for clarification of its
resistance to the merger was unsatisfactory, McCreevy was reported as
saying at a Brussels press conference by the Reuters news agency.
The commission will, consequently, initiate infringement proceedings,
McCreevy also said.
UniCredito won a go-ahead from the commission for its acquisition of
Germany's HVB on October 18, 2005. The deal will result in the merger of
the two banks' Polish units, UniCredito's Pekao and HVB's Bank BPH.
Poland appealed against the decision to the European Court in Luxembourg
on February 6. In addition, Poland alleges UniCredito's acquisition of
HVB's 71% stake in BPH violates the non-compete clause of its 1999
privatization agreement to acquire Pekao. The Italian lender denies the
charge.
AN/RV
For further information please contact the reporter at email:
alex.nowacki@interfax.pl or by telephone on: +48 (22) 630 8393
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 Posté le: Mer Fév 22, 2006 3:29 pm
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