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Tuesday, December 20, 2005

BCR goes to ERSTE

Despite all the predictions from the market, which said that Millenium will win for sure, when the envelope was opened (actually, it was a hard-disk), ERSTE had the best price.

So, by paying a price of about EUR 7.75 / share, ERSTE won the BCR package of 61,88% of the company.

The price offered by Millenium was and will not be disclosed.

The contract will be signed tommorow, 21st of December. As a premiere for the Romanian market, the contract will be made public immediately.

So, we are going to have an Austrian bank in Romania. Another one, we could say. This should be a good thing, right? at least, the good part of it is that they have significat experience in the region, which should lead to good management and good results.

Posted by Mihai : 12/20/2005 11:56:00 pm