Fresh bid for AIB’s stake in Zachodni

Dublin: PKO bank, which is Poland’s biggest lender, is understood to have made a revised cash bid for AIB’s controlling stake in its national counterpart, Bank Zachodni.

Reports suggested that PKO is bidding for 66% of Zachodni (AIB has been hoping to offload its 70% holding), given that any higher tranche would trigger the necessity to launch a bid for 100% of the bank.

If that bid wins, AIB would float the remaining 4% of its interest.