Today, on 24 October 2002, the Czech National Bank granted Invesmart B.V. consent to acquire a qualifying holding in Union banka, a.s., of at least 50% of the voting rights through the acquisition of a stake in Union Group, a.s. In a new application, Invesmart B.V. furnished proof of all the facts required by the Act on Banks and the relevant implementation decree. The administrative decision has already taken effect, since Invesmart B.V. has waived the option of appealing against it.

Pavel Zúbek
CNB Communications Division