Santander Made Preliminary Bid to KBC for Polish Kredyt Bank, Gazeta Says

Banco Santander SA (SAN) of Spain has completed initial due diligence on Kredyt Bank SA (KRB) and has made the Polish lender’s owner, KBC Groep NV (KBC), a preliminary offer, Gazeta Wyborcza reported, citing two people it didn’t name.

KBC will decide within about two weeks whether to accept Santander’s bid, which may or may not include listed insurer Warta SA, or invite other offers, the newspaper reported.

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