Santander Bid for Kredyt Bank Is Below Initial Offer, Rp.pl Says

Banco Santander SA (SAN)’s bid for Kredyt Bank SA (KRB), the Polish lender owned by KBC Groep NV (KBC), is well below its initial offer, Rzeczpospolita reported on its Rp.pl website without citing anyone.

According to the Warsaw daily, Spain’s biggest bank also wants KBC to assume part of the risk related to the foreign currency mortgage loans of Kredyt Bank, the newspaper said, citing a source close to the talks that it didn’t name.

To contact the reporter on this story: Marek Strzelecki in Warsaw mstrzelecki1@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

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