(Reuters) - MILAN, July 5 - Italian bank UniCredit
is having a rough time clinching a deal to sell 200 bank outlets
in Poland as its counterpart GE Money maintains a tough
negotiating line, sources close to the talks said on Thursday.
In April, UniCredit entered exclusive talks with GE Money,
the financial arm of U.S. giant General Electric , to sell
200 BPH bank branches along with the BPH brand and
said at the time that a deal could be sealed in May.
But more than two months after the start of negotiations, a
deal is not yet in sight, meaning UniCredit risks delaying the
planned merger of the remaining BPH outlets into its other
Polish unit Bank Pekao .
"The Americans are playing hard ball," a source told
Reuters. "They know UniCredit is in a difficult situation and
that it wants to close this deal soon."
Read more at Reuters.com Mergers News
is having a rough time clinching a deal to sell 200 bank outlets
in Poland as its counterpart GE Money maintains a tough
negotiating line, sources close to the talks said on Thursday.
In April, UniCredit entered exclusive talks with GE Money,
the financial arm of U.S. giant General Electric , to sell
200 BPH bank branches along with the BPH brand and
said at the time that a deal could be sealed in May.
But more than two months after the start of negotiations, a
deal is not yet in sight, meaning UniCredit risks delaying the
planned merger of the remaining BPH outlets into its other
Polish unit Bank Pekao .
"The Americans are playing hard ball," a source told
Reuters. "They know UniCredit is in a difficult situation and
that it wants to close this deal soon."
Read more at Reuters.com Mergers News
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