Santader files lower-than-expected bid for Kredyt Bank: report

Santader files lower-than-expected bid for Kredyt Bank: report

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WARSAW (Global Markets) - Santander (SAN.MC), the biggest bank of the euro zone, filed a lower-than-expected offer to buy an 80 percent stake in Belgian lender KBC's (KBC.BR) Polish unit Kredyt Bank BKRE.WA, daily newspaper Rzeczpospolita quoted unnamed sources on Saturday as saying.

The newspaper also said the deal could hence not go ahead and quoted a source close to negotiations as saying Santander would also want to share with KBC the burden of funding foreign currency loans.

Kredyt Bank has mortgages denominated in euros and Swiss francs in its portfolio, but must turn to its Belgian mother-bank to obtain the currencies.

In October, sources told Global Markets Santader could team up with private equity firm Apax to buy Kredyt Bank.

(Reporting by Gabriela Baczynska; Editing by Ed Lane)