OTP, Intesa in battle to buy Romania's Garanti bank - media

Banca Transilvania

03/02/2020 11:08

BUCHAREST/BUDAPEST, Feb 3 (Reuters) - Hungary's OTP Bank
 OTPB.BU  and Italy's Intesa Sanpaolo  ISP.MI  have reached the
final stages of the race to buy Garanti BBVA's Romanian unit,
Romanian news outlet Ziarul Financiar (ZF) said on Monday,
citing banking market sources.
    "After latest talks, the finalists are Hungary's OTP and
Italy's Intesa," ZF said, adding the price of the sale could top
400 million euros ($443 million).
    It said bidders had included local rivals Banca Transilvania
 ROTLV.BX  and Raiffeisen Bank Romania.  urn:newsml:reuters.com:*:nL8N29S5U5
    Asked to comment on the sale process, Garanti BBVA Romania,
the country's 10th biggest bank by assets, said "the group's
policy is to not comment on rumours or market sources."
    Garanti BBVA Romania is held by Garanti BBVA Turkey. Spanish
financial group Banco Bilbao Vizcaya Argentaria (BBVA)  BBVA.MC 
is the majority shareholder of Garanti BBVA Turkey, according to
the official website of the Romanian bank.
    An OTP spokesman said the bank did not comment on press
information on acquisitions. Intesa was not immediately
available to comment.
    ($1 = 0.9038 euros)

 (Reporting by Radu Marinas and Marton Dunai; Editing by Mark
Potter)
 ((radu.marinas@thomsonreuters.com; +40 21 527 04 33;))