The winner in the DSK Bank privatization tender in Bulgaria should be announced today. Erste Bank and the Hungarian bank OTP bid EUR 293 mil. and EUR 311 mil., respectively, for a 100% stake in the state-owned bank. A purchase contract would then be expected to be signed in several weeks; DSK's privatization is due to be completed by the end of August.
We newly evaluate the stake at EUR 288 mil., based on audited consolidated 2002 figures (we had previously evaluated the stake at EUR 259 mil., based on forecasts of the 2002 results).
Jan Hájek