AUSTRIA: BAWAG GETS P.S.K

Article Abstract:

In Austria, OIAG is to sell the post office bank Osterreichische Postsparkasse (P.S.K.) to Bawag for Sch 17.6bn. The bank's bid was reportedly higher than that of the only remaining competitor, OVAG that was supported by the German insurance group Ergo. Through P.S.K., the Bawag bank, which is controlled by the Austrian trade union confederation OGB and Bayerische Landesbank of Germany, can strengthen its presence outside Vienna.

Organizational history, Osterreichische Volksbanken AG

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AUSTRIA: EU COMMISSION CLEARS P.S.K. TAKEOVER

Article Abstract:

The European Commission has approved the acquisition of the Austrian post office bank Osterreichische Postsparkasse (P.S.K.) to Bawag. The former is Austria's 4th-biggest and the latter the 5th-biggest bank. Together they become number three (with a balance sheet total of Sch 586bn) after Bank Austria (Sch 1,926bn) and Erste Bank (Sch 722bn).

Government regulation (cont), European Union. European Commission, Osterreichische Postsparkasse

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