E.U. Threatens Poland Over Bank Merger Opposition

Law360, New York (March 3, 2006, 12:00 AM EST) -- Citing "nationalist rhetoric," European regulators are planning to warn Poland’s government over its attempts to block a bank merger that has already been approved by the European Commission.

The Polish treasury recently asked its local banking supervisory authority to freeze Unicredito Italiano SpA's rights over the 71% stake it owns in Bank BPH SA, in an effort to stymie Unicredito's plans to merge its Polish unit Bank Pekao with BPH.

Unicredito gained control of BPH after taking over Germany’s HVB Group AG.

The Commission, which enforces...
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