Government allocates HUF 15 bln for acquisition of 15% stake in Erste

History

Hungaryʼs government will allocate HUF 15 bln for the acquisition of a 15% stake in Erste Bank Hungary, an opinion issued on modifications to this yearʼs budget by the Fiscal Council today reveals.

Hungaryʼs government and the EBRD both agreed earlier in February to buy stakes up to 15% apiece in the Hungarian unit of Austriaʼs Erste Group. The government also announced a reduction in the bank levy.

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