Watchdog gives nod to Vienna Bourse to acquire majority stake in Budapest peer

Deals

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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