1049 GMT - Austrian lender Erste Bank has previously shown interest in expanding in Poland and could potentially set its sights on Santander's operations in the country should the Spanish bank put them up for sale, Citi says in a research note. Bloomberg reported that Santander is considering divesting its 62% stake in Santander Bank Polska. Analyst Simon Nellis outlines two potential scenarios at current market prices: one in which Erste buys the entire subsidiary--triggering a tender offer--and one in which it buys 49.99%. "Under both...the transaction would require a sizable capital increase of an estimated 8 billion euros in the first scenario and 4 billion euros in the second," he notes. The transaction would be significantly earnings accretive in either case, he adds. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
April 09, 2025 06:49 ET (10:49 GMT)
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