BRE to float mBank

BRE Bank may decide to float stock of Bank Czestochowa by the end of this year, when it is merged with BRE's Internet operations under the name of mBank. BRE may also sell some of mBank's shares to a strategic investor, but wants to retain about 50% in mBank. According to the daily newspaper Rzeczpospolita's calculations, the value of the new bank could be estimated at PLN 375mn-500mn (USD 90mn-120mn). kp,bb