Vienna bourse agrees to up Budapest bourse stake

Deals

Austria's Wiener Boerse has agreed to buy a 25.2% stake in the Budapest Stock Exchange from UniCredit Bank Hungary to become the exchange's biggest shareholder by far.

Vienna stock exchange operator Wiener Boerse already owns a 12.5% stake in the Budapest Stock Exchange, while Austria's OeKB and Erste Bank both hold around 12%.

The supervisory board of UniCredit Bank Hungary decided on Thursday to agree to sell its stake to Wiener Boerse, UniCredit's Austrian arm said.

“The decision has been taken in accordance with the group's strategy to focus increasingly on its core business,” UniCredit Bank Austria said, adding proceeds from the sale would go towards the expansion of the Hungarian subsidiary.

The deal is subject to regulatory approval, said Bank Austria. (Reuters)

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