Polish Pekao to take control of UniCredit Ukrainian operation - report |
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Published
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Mon, 15 Oct 2007 08:13
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WARSAW (Thomson Financial) - Italy's UniCredit will consolidate its developing Ukrainian operations under Polish unit Pekao, possibly leading to lower dividend payouts on the latter's stock, Polish business daily Parkiet reported unnamed sources as saying.Banking sources told Thomson Financial earlier this year that the deal between Poland's conservative government and UniCredit to allow a merger of its Polish businesses included a promise that Pekao would maintain a leading role in Ukraine.But it was UniCredit's Austrian branch Bank Austria that in July agreed to pay 1.5 bln eur for Ukrsotsbank, Ukraine's sixth-largest bank.'It now turns out that it will be Pekao who will gradually buy up the Ukrsotsbank's stock,' Parkiet wrote. 'This may however mean a smaller dividend for shareholders in the Polish company.'patrick.graham@thomson.com *48 22 447 2430pjg/ejbCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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