UniCredit has officially confirmed plans to offload a 10-percent stake in its Polish business, Pekao. The Italian lender has been targeting select institutional investors and said it hopes to find a buyer as soon as possible. “The transaction will make it possible for us to strengthen the group’s financial position, while allowing us to keep control over its ongoing operations,” Pekao wrote in a statement. Pekao’s WSE shares rose 11.59 percent on Tuesday in response to the news.
Commenting on the news, Poland’s deputy prime minister, Mateusz Morawiecki, told the Polish Press Agency (PAP) that the government remains committed to plans to expand its share within the Polish banking sector. “We pay extra attention to these types of opportunities,” he said.
