Watchdog gives nod to Vienna Bourse to acquire majority stake in Budapest peer
Hungary's financial market watchdog PSzÁF said it approved the Vienna Bourse's request to acquire up to 50.45% of the Budapest Stock Exchange (BSE).
The acquisition will also give the Vienna Bourse a 46.7% indirect stake in clearing house KELER.
In June, the Vienna Bourse announced it would buy 25.2% of the BSE from UniCredit Bank Hungary, raising its stake to 37.7%. It also said it was in talks to buy stakes in the BSE from the other members of a consortium of financial companies that bought a combined 68.8% stake in the BSE in 2004.
Among the consortium's members are Österreichische Kontrollbank, with a 12.5% stake in the BSE, Raiffeisen Zentralbank Österreich (6.37%), Erste Group Bank (6.37%) and Erste Befektetési (5.85%). The acquisition of all of the shares held by the remaining members will raise the Vienna Bourse's stake in the BSE to 50.45%.
PSzÁF's approval of the acquisition is valid for 30 days from September 19. (MTI – Econews)
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