UPDATE 1-Pekao seen As main contender 4 Commerzbank’s Polish bank – sources #Sources_Said

UPDATE 1-Pekao seen As main contender 4 Commerzbank’s Polish bank – sources #Sources_Said

February 6, 2020 0 By NewsTakers

(Adds more information and quotes)
By Anna Koper and Arno Schuetze
Buyout fund Apollo submitted a first-round bid, but is viewed as having little chance against any bid from a Polish bank, the sources said.
Poland’s biggest bank, PKO BP, has so far not made an offer for mBank, Poland’s fourth-largest lender by assets, in which Commerzbank owns a 69.3% stake, the sources said, adding it may still do so at a later stage.
“Pekao has submitted a bid.
PKO BP is not bidding because it would not make any sense for state banks to compete in the process,” one source said.
Commerzbank confirmed a sales process for mBank had started, adding it would only sell for the right price.
Last year, Prime Minister Mateusz Morawiecki said he was in favour of increasing Polish ownership in reference to the mBank sale.
MBank has a market value of 15.75 billion Polish zlotys ($4.07 billion), which makes Commerzbank’s 69.3% stake worth well over 2 billion euros.
ING’s Polish unit, Santander Bank Polska and the local arm of BNP Paribas are at this stage watching the auction from the sidelines.

Adult spanking is a curious thing. I mean, most of us did not like being spanked as children. We dreaded spankings, didn’t we? So, why do so many of us long to be spanked as adults. I think for some of us, it is for sexual pleasure. For others, it is to meet an emotional need. Maybe we feel we deserve it before we enjoy fucking. Some parts of society make women feel we are bad if we enjoy being fucked. So, maybe we feel better about our longing if we are punished first. I will tell you why I want you to spank me.

Source link