The financial institutions which have continued in the bidding process are Banca Monte dei Paschi di Siena S.p.A., EFG Eurobank, National Bank of Greece, OTP Bank, Raiffeisen Zentralbank Oesterreich Aktiengesellschaft in consortium with Raiffeisen International Bank, Holding A.G, Dexia and Erste Bank. The same statement adds that the offers were opened immediately after the deadline expired on Friday, so negotiations can begin on the next stage in the privatization process which starts today.
The banks will have another week to assess CEC’s financial situation, while final offers are expected at the end of the month.
Banking sources stated that the price will represent between 70% and 90% of the main criteria in choosing the future investor.
OTP’s deputy general director, Laszlo Wolf, stated that the most important financial group in the region (OTP) considers participation in the CEC privatization as a key element in the group’s strategy in Central and Eastern Europe. „The objective of the OTP Banking Group in Romania is to provide its clients a range of complete financial services throughout the country, including small localities”, stated Wolf. The OTP official believes that if the bank is successful in its bid for CEC, this could lead to closer economic ties between Romania and Hungary and could also contribute to Romania’s accession to the EU.
CEC is the sixth bank in Romania in terms of the value of its assets, with 1,400 outlets.
