Pekao opens 5 pct down on news UniCredit is cutting its stake
WARSAW Jan 30 (Reuters) - Shares in Poland's No. 2 lender Bank Pekao fell more than 5 percent at market open on Wednesday on news its parent company, Italy's UniCredit , was selling 9.1 percent in the Polish firm.
The Italian bank said on Tuesday it was cutting its Pekao stake to just over 50 percent to make better use of its capital resources within the group, adding it did not plan to sell a further stake. (Reporting by Adrian Krajewski)
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