0553 GMT - The acquisition of a 49% stake in Santander's Polish operations by Austria's Erste Group makes strategic sense but the large capital increase likely needed to finance it may not please investors, Citi says after the banks said they are in talks about a potential deal. "Given the elevated trading multiples of the target and the size of the transaction it is likely that the transaction will require a sizable capital increase which may not be appreciated by the market," analyst Simon Nellis writes in a research note. Beyond this, the deal for Santander Bank Polska would be positive for Erste as it would solidify its position as a strong player in Central Europe. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
April 29, 2025 01:53 ET (05:53 GMT)
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