Updated: Poland postpones PKO sale as Russia ponders over Sberbank

The Polish ministry of treasury on Tuesday confirmed the postponement of a secondary public offer of PKO Bank Polski shares which could have been worth as much as $2.7bn though said it hopes to complete the deal after elections in October. The chances of Russia completing a $5bn sale of Sberbank shares have also receded during extended market turmoil during the summer.

  • 26 Aug 2011

(Updated to include analyst comment)

“The public offering could be one of the largest transactions in the history of the Polish capital market,” said the ministry. “Optimal market conditions are necessary to carry out a transaction of this magnitude.”

The PKO prospectus had been filed in mid-July, setting the deal ...

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