Today is the deadline for binding bids in the privatization tender for 100% of the Hungarian Postabank. The State Privatization Agency of Hungary has short-listed five bidders, including Erste, toward a second round (the other bidders are reportedly Budapest Bank, owned by GE Capital, HVB, OTP Bank, and Citibank). Erste Bank and HVB reportedly submitted the highest indicative bids in preliminary bidding, each at approx. HUF 60 bil.-65 bil. (EUR 223 mil.-242 mil.). These bids are close to the price that we consider as reasonable for the stake (EUR 235 mil.).
Jan Hájek