According to Hungarian press speculations, Erste Bank and HVB filed the highest bids in the first round of bidding for the state 100% stake in Postabank. Their bids reportedly approached HUF 65 bil., i.e. EUR 242 mil. Behind them came Budapest Bank and Citibank, which reportedly offered around HUF 50 bil. (EUR 187 mil.), OTP submitted the lowest bid, somewhat above HUF 45 bil. (EUR 168 mil.).
Erste’s bid is thus close to the price (EUR 235 mil.) that we consider as reasonable to be paid for the state’s stake in Postabank. The news is neutral until the final price paid for the bank is released.
Five candidates have been invited to the second round, where the only factor measured will be the price. Postabank's confidential data room was opened for the examination of potential purchasers yesterday. (Source: K&H Bank)