April 20, 2018 / 12:48 PM / 2 years ago

BlackRock holds 5 percent stake in Poland's Alior Bank

FILE PHOTO: The BlackRock logo is seen outside of its offices in New York City, NY, U.S., October 17, 2016. REUTERS/Brendan McDermid/File Photo

WARSAW (Reuters) - BlackRock Inc (BLK.N), the world’s largest asset manager, has a small stake in Poland’s Alior Bank (ALRR.WA) that gives it more than 5 percent of voting rights, the bank disclosed on Friday.

Alior Bank, controlled by state-run insurer PZU (PZU.WA), is the subject of merger speculation as Bank Pekao SA (PEO.WA), also controlled by PZU, is keen to take over Alior and is set to decide this quarter whether to make a move.

Alior said BlackRock owned 4.99 percent of Alior shares and some other financial instruments, giving it 5.13 percent of voting rights in the bank.

Alior’s share price has fallen more than 9 percent this year, after surging 47 percent last year on strong results and merger speculation. It now has a market value of $2.8 billion on the Warsaw bourse.

Reporting by Marcin Goclowski; Editing by Susan Fenton

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