Unicredito offer for Poland's BPH ends with no shares tendered

Unicredito offer for Poland's BPH ends with no shares tendered

Unicredito Italiano SpA said the mandatory offer for the 28.97 pct it does not already own in Poland's Bank BPH SA ended on March 1 with no shares tendered.

Unicredito was offering 702.11 zlotys in cash for each share of BPH, which it controls indirectly after its takeover of BPH owner HVB Group AG last year.

On March 1, BPH shares closed at 800 zlotys, it said.

Unicredito is facing opposition from the Polish authorities to its plan to merge BPH with Unicredito's Polish unit Bank Pekao.