Colling
"Payroll, Financial Audit, Internet Accounting"
|
OTP makes second highest bid for Romania's CEC - paper |
Greek EFG Eurobank has offered a total of EUR 300 million for fully state-owned Romanian Casa de Economii si Consemnatiuni (CEC), local business daily Ziarul Financial reported on Wednesday. Hungary's OTP offered the second largest sum, EUR 270 million, for the 75% package, the paper added.OTP Bank submitted a preliminary, non-binding offer for the purchase of a majority stake in CEC on 21 October.
After France's Societe Generale decided to opt out, seven banks remained in competition for CEC, namely French-Belgian Dexia, Greek banks National Bank of Greece and EFG Eurobank, Ausrian banks Erste Bank and Raiffeisen, Italy's BMPS and OTP.
The prices offered in the first round will play only a secondary role in the sell-off, given that final bids are to be submitted by 28 November. The banks must have been this bold so as to avoid being ditched from bidding for offering an unexpectedly low price.
Romania is to sell a share package representing at least 50% plus one share, but not more than 75% of CEC. The tender was invited on 10 August.
Source: portfolio
Click here for the source!
03.11.2005
|
|