The Hungarian OTP Group is now asking for EUR 360 million for the sale of its Romanian bank, less than the value of its own funds but still above the offer of EUR 300 million that Banca Transilvania, the favourite to complete the deal, is making.
Banca Transilvania and Raiffeisen Bank are the only ones left in the race to take over OTP, after UniCredit pulled out.
OTP initially wanted a price at least equal to its own funds of RON 2.1 billion but buyers were never willing to offer even 70 percent of that amount, so the Hungarian group has reduced its demands over time.
Source: Profit.ro
