In the world of financial transactions and strategic alliances, significant news has emerged: Austrian bank Erste Group Bank AG $EBS.VI has agreed to acquire major operations of Spanish lender Banco Santander SA $SAN in Poland. This deal, valued at approximately 7 billion euros (or 7.9 billion dollars), marks the largest transaction in the history of both Erste Group and the Polish banking sector.

Erste Group Bank AG $EBS.VI, Austria's largest lender, is in negotiations with Spanish banking giant Banco Santander SA $SAN for a significant stake in its Polish division. This acquisition could mark an important step for Erste Group as it seeks to expand its presence in one of the fastest-growing banking markets in Europe.

Shares of Erste Group Bank AG $EBS.VI , one of Eastern Europe's leading financial institutions, have experienced a significant decline, marking the steepest drop in two years. This downturn occurred following the announcement of plans for a share buyback worth approximately €709 million ($736 million), which, however, did not meet analysts' expectations.