Poland Gains Concessions With UniCredit Deal

Law360, New York (April 19, 2006, 12:00 AM EDT) -- Resolving a contentious battle that has kept the European Commission busy, the Polish government signed a deal Wednesday with Italian banking group Unicredit SpA regarding the fusion of two competing Polish banks, both majority-owned by Unicredit.

The agreement, between UniCredit and Poland's Treasury, cleared the way for the merger of UniCredit's Polish units, Bank BPH SA and Bank Pekao SA and should ensure that BPH remains an independent bank on the Polish market.

UniCredit now has up to 30 months to sell around 200 BPH and...
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