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Bourse to have new board following MNB takeover

Days after the Hungarian National Bank (MNB) purchased the Budapest Stock Exchange (BSE) and put its deputy governor in charge, the Board of Directors of the bourse announced an extraordinary meeting for December 16 with an agenda that includes replacing members of the Board, an announcement on the BSE website said.

The agenda of the December 16 meeting also includes the amendment of the statute governing the management of the BSE, the announcement reveals.

MNB announced a week ago that it had acquired a majority stake in the Budapest bourse, and central bank deputy governor Márton Nagy has been appointed to be in charge of the bourse. Nagy also said that the MNB is planning to prepare a new strategy for the development of the BSE.