Hungary's OTP could bid for Luminor
Hungarian bank OTP may place a bid to buy Luminor, which operates in the Baltics, Bloomberg reported on Thursday.
Earlier this year, the outlet reported U.S. private equity firm Blackstone plans to sell its stake in Luminor.
Sources told Bloomberg that OTP made a "non-binding offer".
Blackstone expects a sale price of €1.8 billion.
The company owns 80.05 percent of Luminor Holding with DNB owning the remaining 19.95 percent.
Luminor's head office is in Tallinn and the bank operates in Estonia, Latvia, and Lithuania. It is the third-largest provider of financial services in the Baltics.
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Editor: Helen Wright
