Poland to Sell Bank Handlowy stake to Citi

According to what the deputy treasury minister said on ednesday, Poland plans to sell a $124 million stake in mid-sized lender Bank Handlowy BAHA.WA to its majority owner Citigroup Inc.

"In the case of Bank Handlowy we want to offer the sale of the remaining stake (2.5 percent) to its majority shareholder," Joanna Schmid told a parliamentary committee.

By the end of next year the treasury wants to offload all of its minority stakes in former state-owned companies after they were sold to foreign investors earlier in the decade.

These include 4 percent of Poland's Bank Pekao BAPE.WA, which the treasury seeks to sell to UniCredit, and a stake in the country's former communist-era phone monopoly TPSA TPSA.WA, now a unit of France Telecom.