According to Hungarian media reports, Erste Bank and HVB have submitted the highest indicative bids in the tender sale of 100% of the state-owned Postabank of Hungary, each at approx. HUF 65 bil. (EUR 242 mil.). This would be close to the price that we consider as reasonable (EUR 235 mil.). Binding bids should by submitted by September 12.
The news is neutral until the official price paid for the bank is released.
Jan Hájek