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UniCredito Italiano SpA and Allianz AG have made a joint offer of $350 million (371.9 million euro) for 98.5% of Bulgaria's largest bank, Bulbank, which will be considered by the country's bank privatization agency on Friday. Petar Zhotev, the Deputy Prime Minister, has stated that he expects to approve the draft agreement. However, the bank's top management has publicly expressed criticism of the deal, stating that the offer price is too low.
Thursday, 29 June, 2000