Polish fund for sale after merger breakdown

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POLAND - Polish BRE Bank will seek to sell its pension unit PTE Skarbiec to another buyer after the Insurance and Pension Funds Supervisory Commission (KNUiFE) rejected the sale to PTE PZU, one of the biggest pension funds in the market.

BRE Bank said it would not appeal the KNUiFE’s decision on the merger of PTE Skarbiec with PTE PZU and instead would continue to seek other opportunities to exit the pension fund business. BRE Bank...

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