Poland Sells 3.1% of Bank Pekao for $377 Million
By Sarah Jones and Pawel Kozlowski
Aug. 5 (Bloomberg) -- Poland sold a 3.1 percent stake in Bank Pekao SA, the nation's biggest lender by market value, for 1.08 billion zloty ($377 million), helping to finance the country's widening budget deficit.
The government sold "almost" 8 million shares in the UniCredit SpA unit at 135 zloty, Maciej Wewior, a spokesman for the Treasury Ministry, said in a telephone interview. While Poland had planned to sell its entire 3.95 percent stake, it only received enough offers at that price for about three- quarters of the shares, said a person familiar with the sale who declined to be identified. The government wants to offer its remaining stake for "at least the same price" by the end of the year, Wewior said.
