Portugal's Millennium BCP to bid for Romania's BCRPortugal's biggest private bank, Millennium BCP, will make a bid to buy a 61.9 pct stake in Romania's market leader Banca Comerciala Romana, the bank's chief executive officer said.
Millennium BCP will bid for BCR, which is being partly privatised by the Romanian government, alone and without resort to a capital increase, Paulo Teixeira Pinto told a news conference.
"The bank has a financial structure that enables it to make this bid," he said, adding the proposal will be delivered to BCR on Monday.
He gave no financial details but analysts estimate BCR is worth 3.8-5.8 bln usd.
Germany's biggest bank, Deutsche Bank AG, is thought to be the favourite to acquire BCR, with Belgium's Fortis NV and Italy' Unicredito also interested.
The Romanian government is reducing its stake in BCR to 20 pct from 45 and is looking for a "strategic investor" to buy up to 51 pct of the bank, which has nearly 4 mln customers.