December 17, 2019 / 3:23 PM / in 2 months

Polish, international banks to bid for Commerzbank unit by mid-Jan -sources

WARSAW/FRANKFURT (Germany), Dec 16 (Reuters) - Lenders interested in buying Commerzbank’s Polish arm, mBank , are expected to file their initial bids for Poland’s fourth-largest lender by assets by a mid-January deadline, three sources said on Tuesday.

Germany’s second-largest lender has said it aims to sell its 69.3% stake in mBank by the end of 2020. Among parties interested are state-run giants - Poland’s biggest bank PKO BP and a consortium comprising insurer PZU and its subsidiary Pekao, the sources said.

Separately, Austrian lender Erste and Credit Agricole are also expected to hand in first-round offers, they said, adding that bids from further contenders could not be ruled out. (Reporting by Anna Koper, Arno Schuetze and Marcin Goclowski; Additional reporting by Pamela Barbaglia Editing by Michelle Martin)

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