Bloomberg News

Santander Made Offer to KBC for Polish Kredyt Bank, Gazeta Says

September 28, 2011

Sept. 28 (Bloomberg) -- Banco Santander SA of Spain has completed initial due diligence on Kredyt Bank SA and has made the Polish lender’s owner, KBC Groep NV, a preliminary offer, Gazeta Wyborcza reported, citing two people it didn’t name.

KBC will decide within about two weeks whether to accept Santander’s bid, which may or may not include listed insurer Warta SA, or invite other offers, the newspaper reported.

To contact the editor responsible for this story: David McQuaid at dmcquaid1@bloomberg.net


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