Reuters: Erste Group likely to acquire Citigroup’s Hungarian portfolio

Deals

Although they are among several contenders, anonymous sources say Erste Group is the frontrunner in securing Citigroup Inc.’s Hungarian retail portfolio, Reuters reported on Friday.

Two sources informed Reuters that a decision had been made, one of which said the announcement would be made in one month.

"We have expressed our interest. We are waiting for the outcome,” a spokesperson from Erste Group said in an official response to a query by Reuters.

"We cannot disclose details about the sale of our retail business at this phase," Citibank Hungary spokeswoman Éva Hencz said, but she also made it clear that "the sale does not include either our corporate portfolio or our Citi Service Center in Budapest."

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