Poland fears UniCredit merger

Poland’s Prime Minister Kazimierz Marcinkiewicz has said that the government will send its opinion on a planned major bank merger on the Polish market to the European Commission on Monday. Italy’s Unicredito wants to merge PeKaO with the German-owned BPH bank. It is one of the main shareholders in both banks. The Polish government has opposed the plan, fearing that the merger would undermine competition and cause job cuts. The European Commission has asked for an explanation of this stand by Monday.

Source: Radio Polonia

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