Vienna bourse agrees to up Budapest bourse stake
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.
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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