Hungary plans no more acquisitions of major banks -govt

MBH Jelzalogbank Nyrt

10/02/2015 09:45

BUDAPEST, Feb 10 (Reuters) - Hungary's government plans no 
further acquisitions of major banks active in the country, 
Economy Ministry officials told reporters on Tuesday after a 
deal to gain a minority stake in Austrian Erste Bank's  ERST.VI  
local unit. 
    Under an agreement signed with the European Bank for 
Reconstruction and Development (EBRD) on Monday, Hungary will 
sell the stakes recently acquired in major local lenders, such 
as MKB Bank and Budapest Bank, within three years. 
    The purchase of Budapest Bank is still pending. 
    The officials said the government may retain a minority 
stake in the banks it now controls after privatisation and it 
will definitely retain its minority stake to be acquired in 
Erste's local unit. 
 
 (Reporting by Gergely Szakacs; Editing by Keith Weir) 
 ((gergely.szakacs@thomsonreuters.com; +36 1 327 4748; Reuters 
Messaging: gergely.szakacs.thomsonreuters.com@reuters.net)) 
 
Keywords: HUNGARY BANKS/