Gov’t rejects objections to Takarékbank stake sell

Competition

The National Development Ministry has formally rejected any and all objections formulated by the national association of savings cooperatives (OTSz) regarding the planned sale of a central stake in the savings’ umbrella bank, Takarékbank.

OTSz had said earlier that the related tender violates the government’s earlier declared goal of giving reserves a preference in the sales procedure and threatened to seek out all domestic and international legal channels unless the terms of the tender are revised.

The ministry stressed that all conditions of the tender were available earlier and any objections that OTSz formulated stem from limited familiarity with the related regulations.

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