News » March, 2011 » 1 March 2011
SIFs put pressure on Erste: Either you list BCR or we sell
01.03.2011, 08:15 | Capital Markets | 833 views
The listing of BCR, the biggest bank in Romania, has inflamed the five SIFs (financial investment companies), which hold 30.12% of the shares, on the one side, and majority shareholder Erste Bank, with 69.4% of the capital, on the other. Originally scheduled for October 2009, the listing was put off until October 2011. The SIFs say the listing would bring them the opportunity to sell their historical 6% stakes each in the BCR given to them back in 1993, which are no longer a major source of dividends, while the majority shareholder believes a listing in the current situation of the Bucharest Stock Exchange would not reflect the fair value of the BCR. Read more on ZF.ro
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