According to a report in Romanian daily Ziarul Financiar, picked up by Bloomberg, Erste Bank has offered EUR 3.2bn for a 61.9% stake in Banca Comerciala Romana (BCR), which has a 26% market share, assets of EUR 7.3bn, and operates 345 branches across the country. According to the same source, Banco Comercial Portugues offered EUR 3bn, Banca Intesa EUR 2.5bn, Deutsche Bank EUR 2.2bn plus a EUR 250m investment, National Bank of Greece EUR 2.1bn and Dexia EUR1.9bn. We believe shareholders should be prepared for a capital increase of up to EUR 2.0bn if Erste Bank is successful.