November 24, 2016 / 4:56 PM / 3 years ago

Polish deputy PM says Pekao negotiations with UniCredit in final stage

WARSAW, Nov 24 (Reuters) - Polish state-run insurer PZU and state development fund PFR are in the final stage of talks with Italy’s UniCredit over buying its Polish arm Bank Pekao, Polish Deputy Prime Minister Mateusz Morawiecki was quoted as saying on Thursday.

“We are in the final phase, but I cannot comment on the details as these are confidential negotiations,” Morawiecki told state agency PAP. “We will see if we can reach an agreement with partners (...) already this year.”

Asked about obstacles in the talks, Morawiecki was quoted as saying: “There have been no big obstacles from what I know, but it can always turn out that the price does not fit our expectations.”

PZU and fund PFR are in negotiations with UniCredit over buying a combined 33 percent stake in Bank Pekao, a source close to the matter told Reuters in October. (Reporting by Marcin Goettig; Editing by Alexandra Hudson)

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