WARSAW Dec 8 Italy's UniCredit will
receive the payment for its 33-percent stake in Polish bank
Pekao in zlotys, which it will exchange into euros at
state bank BGK and not on the market, said the head of Polish
fund PFR, which is buying the stake with insurer PZU.
"We would like the exchange to take place with the
participation of BGK, which has an open line in the central
bank. We're paying UniCredit in zlotys and UniCredit will
exchange them into euros not on the market," PFR CEO Pawel Borys
PFR and PZU will pay 10.6 billion zlotys ($2.57 billion)
(2.39 billion euros) for the stake.
If the payment is conducted not on the market it will not
influence the zloty rate, analysts said.
(1 euro = 4.4373 zlotys)
($1 = 4.1227 zlotys)
(Reporting by Marcin Goclowski; editing by Jason Neely)