Billionaire Kellner Seeks Moneta Stake to Revive Bank Merger
- PPF plans tender offer for stake in lender Moneta with premium
- PPF could gain control over Moneta through proposed share swap
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Billionaire Petr Kellner is proposing to buy a stake in Moneta Money Bank AS at a premium in an attempt to revive one of the largest Czech banking mergers that fell through two years ago.
Kellner’s PPF Group NV wants to acquire as much as 29% of Moneta in a tender offer to all existing shareholders next month at a price that’s 19% above the market value, the Prague-listed bank said on Friday. PPF asked Moneta management for an opinion on the offer by Jan. 29, as well as to start talks on buying PPF’s Air Bank and other Czech and Slovak financial assets through a share swap that could give the richest Czech a majority in the combined entity.