Merger Komerční banka/Modrá pyramida approved

20 Sep 2006

Czech Office for The Protection of Competition (UOHS) has allowed Czech bank Komerční banka (unit of Societe Generale) to raise its stake in building society Modrá pyramida stavební spořitelna to 80 from 40 percent.

The merger will not harm competition on the market for home-building savings. Komerční banka will buy the 40 percent stake from Germany's BHW. The Decision was issued on 15 September 2006.

Press and Personnel Department of the Office