BNP Paribas still in running for Polish bank: source

24th August 2010, Comments 0 comments

BNP Paribas remains in the running to take over BZ WBK, the Polish lender owned by troubled Irish bank AIB, a source told AFP on Tuesday after a report suggested the French bank had exited the race.

"There are three still in the race that have put in bids and the timing (of the sale) is getting close," the source said.

Asked if BNP Paribas was one of the three, the source replied: "Yes."

French business newspaper Les Echos had on Friday reported that BNP was no longer interested in trying to win AIB's 70-percent stake in Bank Zachodni WBK (BZ WBK).

The source said the other two runners were Spanish bank Santander and Polish lender PKO BP.

Allied Irish Bank (AIB) is looking to offload its majority stake in BZ WBK after being battered by the financial crisis.

© 2010 AFP

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