Report: MNB’s purchase of BSE could cost HUF 13 bln
Photo courtesy Budapest Stock Exchange
Following three months of negotiations, the National Bank of Hungary (MNB) performed a buyout on CEESEG AG and Österreichische Kontrollbank AG, the two Austrian owners of the Budapest Stock Exchange, to gain 75% ownership with a payment of more than HUF 13.2 billion, Hungarian online daily napi.hu reported on November 20.
Since 2008, CEESEG AG has owned 50.45% of the BSE while Österreichische Kontrollbank AG owned 18.34%, Hungarian online daily vg.hu reported early this morning.
According to napi.huʼs information, the Hungarian central bank will pay HUF 3,550 per share and HUF 13.2 bln in total, raising its ownership from 6.9% to 75.75%. Due to its more than three-fourths ownership in BSE, MNB will be entitled to make decisions on its own regarding the Budapest bourse, napi.hu reported.
MNB Deputy Governor Ferenc Gerhard said on September 11 that MNB was in talks with CEESEG, majority owner of the Budapest Stock Exchange (BSE), to acquire ownership of the exchange. On October 21, MNB vice president László Windisch confirmed the plans.
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