Banca Transilvania is in advanced discussions to buy the Romanian unit of the Hungarian bank OTP Bank, Bloomberg confirmed, but it remains to be seen whether the wide gap between the prices envisaged by the two parties is closing.

The two sides “aim to conclude negotiations by the end of the year,” but no agreement has been reached so far, according to sources consulted by Bloomberg.

Profit.ro announced in October that the Hungarian group OTP was requesting EUR 360 million for its Romanian subsidiary, down from over EUR 400 million (own funds) initially targeted. However, Banca Transilvania was reported to offer EUR 300 million, significantly below OTP’s expectations.

iulian@romania-insider.com

(Photo source: OTP Bank Romania)