Reuters yesterday quoted a “banking source” as saying that HypoVereinsbank had pulled out of the KB tender after bidding had reached EUR 900 mil. (CZK 30.6 bil., or CZK 1,342 per share). HypoVereinsbank has largely been considered the weakest tender participant, and the information thus did not damage the stock.
Both the National Property Fund and Finance Minister Jiri Rusnok later denied the Reuters report, reasserting that Hypo remains interested in the state’s 60% stake. Mr. Rusnok also said that the KB privatization advisor, Goldman Sachs, should submit an evaluation of investors’ bids to Cabinet this week. Cabinet could discus the sale as early as this week at an irregular Cabinet meeting or at the next regular Cabinet meeting on Monday.
(Jan Hájek)