BNP Paribas backs off Polish deal

Warsaw/Paris: French bank BNP Paribas is not ready to pay a price which it thinks is too high for Polish bank Zachodni, according to internal sources quoted by French daily La Tribune.

Although previously eager to place an offer, the French bank may finally scrap the operation, the sources said.

Zachodni’s value is estimated at €3.35 billion. Allied Irish Banks wishes to sell its 70% stake in the bank.