EBRD denies talks to sell Komercijalna stake

By bne IntelliNews May 4, 2012

Jacy Meyer in Prague -

The European Bank for Reconstruction and Development has moved to deny media reports that emerged on May 3 claiming it is in talks with Deutsche Bank over the potential sale of its 25% stake in Serbia's Komercijalna Banka.

"There have been no discussions about such a transaction," head of media relations at EBRD Anthony Williams told SeeNews.

Earlier the same day, and quoting an unnamed source, Belgrade-based Blic reported that the German giant is in negotiation over the acquisition of a 70% stake in Serbia's second largest lender. According to the newspaper, the stake would be gathered through the purchase of the Serb government's 42.6% interest and the EBRD stake, with the remaining shares to come from small minorities.

A Deutsche Bank spokesman told SeeNews that he could neither confirm nor deny the report, saying the bank does not comment on market speculation. Although it did not name it sources, the Blic report was notable for the detail it offered on the alleged deal, including a claim that Belgrade has allocated €102m from the budget for a capital injection into the bank ahead of the sale.

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