October 21, 2019 / 11:40 AM / a month ago

Poland's biggest bank PKO will consider bid for Commerzbank's mBank: CEO

FILE PHOTO: Zbigniew Jagiello, CEO of Poland's PKO BP, speaks during an interview at Reuters Eastern Europe Investment Summit in Warsaw September 24, 2013. REUTERS/Kacper Pempel

WARSAW (Reuters) - Poland’s biggest bank, state-run PKO BP (PKO.WA), will consider a bid for Commerzbank’s (CBKG.DE) Polish unit mBank (MBK.WA) if it is officially put up for sale, its Chief Executive Zbigniew Jagiello said on Monday.

Commerzbank is sounding out potential buyers for its stake in mBank ahead of a formal sale process which is expected to launch in the coming months.

“If mBank is formally presented as an asset for sale, then it is PKO BP’s responsibility to analyse these assets,” Jagiello said. “Naturally, we will look at it, although looking does not automatically mean a desire to buy.”

Reporting by Anna Koper; Writing by Agnieszka Barteczko; Editing by Jan Harvey

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