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Reports: Central bank sues weekly over MKB leak

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The Hungarian central bank (MNB) is suing Hungarian weekly Figyelő for allegedly leaking information on the Hungarian state’s acquisition of MKB Bank, according to news reports released today. According to daily nol.hu, Figyelő published information based on a letter sent by Cabinet Chief János Lázár to MNB Governor György Matolcsy.

Citing the letter, Figyelő reportedly said that the state’s acquisition of MKB Bank from Germany’s BayernLB is a mistake. Figyelő is also said to have argued that the state’s purchase of Budapest Bank for $700 mln from GE Capital was unworthy, as the real market value of the bank is no more than $400 mln.

According to nol.hu, the central bank announced that Figyelő was wrong about the restructuring program at MKB. The central bank reportedly said the reorganization of the bank is advancing in line with the plans and earlier objectives.

The central bank's lawsuit alleges that Figyelő illegally obtained and published a business secret when it published the contents of the letter from Lázár to Matolcsy, according to reports.

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