Moneta Jumps Most on Record as Billionaire Plans to Buy Stake
- PPF mulls tender offer for minority of shares at premium
- PPF could gain control over Moneta through proposed share swap
Petr Kellner
Photographer: Roman Vondrous/CTK/AP Photo
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Moneta Money Bank AS jumped the most on record after billionaire Petr Kellner proposed to buy a stake 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 the Prague-listed bank in a tender offer to all existing shareholders next month at 80 koruna per share, Moneta said on Friday. The investment company also asked Moneta management to start talks on buying its 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.