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OTP makes binding bid for Jubanka

OTP Bank Rt has made a binding bid for a majority (88%) share packet in the Serbian bank Jubanka, OTP announced on the website of the Budapest Stock Exchange on Friday.

Jubanka has 250,000 clients and 88 branches. Serbian central bank president Radovan Jelasic said in June that the stake was worth Euro112– Euro115 million.

Three banks signed declarations of intent with regard to Jubanka: OTP Bank, Societe Generale and Alpha Bank.

Serbian press reports indicate that Societe Generale will not submit a binding bid and Alpha Bank may also opt out of the second round of the tender.

(BBJ 29.xi.04)

 
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