According to OTP Deputy CEO Laszlo Wolf, OTP would like to break from acquisitions after CEC deal at least until 2007. During acquisitions brake bank would like to focus on integrating its subsidiaries
Our view: We see the news slightly positive. CEC deal was followed by acquisitions of over EUR 1.35bn YTD. The Wolf decision is not irrevocable as OTP will be still “opened” for unique acquisition opportunities.