MILAN Jan 29 Italy's UniCredit said
on Tuesday it would sell a up to 9.1 percent in its Polish unit
Pekao to institutional investors through an accelerated
book building process.
UniCredit said the sale will enable it make better use of
its capital resources within the group, and that it does not
plan to sell a further stake.
Shares of Bank Pekao, Poland's second-largest, closed at
166.50 zloty on Tuesday.
The Italian lender, which has a strong presence in central
and eastern Europe, has been cutting jobs, shedding branches and
selling assets as it tries to restore profitability after being
hit hard by the euro zone debt crisis.