BCP Eyes Polish Unit Stake Sale

Portuguese bank, Millennium BCP, is considering a sale of its stake in its Polish unit, Bank Millennium.

Portuguese bank, Millennium BCP, is considering a sale of its stake in its Polish unit, Bank Millennium, Reuters reports. BCP is seeking buyers for the possible sale, which will help it boost its capitalization.

BCP’s 65.5% stake in Bank Millennium is estimated to be valued at about $2.3 billion. Allied Irish Banks and Greece’s EFG Eurobank Ergasias have exited the Polish market due to euro zone sovereign debt crisis.

Click here for the story from Reuters.