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OTP chief reshuffles shares

Sándor Csányi, chairman and CEO of Hungary?s market leading OTP Bank Rt, announced on Wednesday he had sold 2,120,000 OTP shares at a price of Ft 6,380 apiece. According to news reports, the buyer was Bonitás 2002 Kft, owned by Csányi himself. Valued at a total Ft 13.5 billion, the deal is seen as an attempt by Csányi avoid a 20% tax he would have had to pay as an individual shareholder on the Ft 331 million in dividends related to the stocks, Napi Gazdaság commented.