The acquisition failed to win the approval of the National Bank of Romania in March, but OTP Bank Romania had appealed the decision, reported Hungarian state news agency MTI. The appeal has now been withdrawn, OTP Bank said on Thursday.
OTP Bank announced the acquisition last summer, and it was approved by Romaniaʼs competition authority in December, which said the transaction would not harm free competition on the local banking market. The acquisition would have raised OTP Bankʼs market share in Romania to around 4%, which would have made it the countryʼs eighth-biggest bank.
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