UniCredit faces BNP, Santander in race for Poland's BGZ-report
WARSAW Oct 4 (Reuters) - Italy's UniCredit will face competition from France's BNP Paribas and Spain's Banco Santander in the race to acquire Poland's No.11 bank BGZ, Polish media reported on Friday.
UniCredit, Italy's largest bank by assets, said on Thursday it had submitted a preliminary offer to buy BGZ, whose parent is Dutch-based Rabobank, through its Pekao unit, Poland's No.2 lender.
Daily Puls Biznesu quoted unnamed sources as saying Santander's local bank BZ WBK and BNP Paribas are also in the running, with the latter having put the best offer and already being in the due-diligence phase.
"No formal decision on the BGZ sale has been made yet," The daily quoted its source. "It will be made at the end of October or in the beginning of November."
No-one at BGZ was immediately available for comment.
A spokeswoman for Rabobank, the Netherlands' largest retail bank, said on Thursday the lender was still reviewing its strategic options for BGZ and had not yet decided whether it wanted to sell its 98 percent stake. (Reporting by Adrian Krajewski; Editing by David Holmes)