Are you sure?

Pension fund assets give state 5% stake in Est Media

Hungarian media company EST MEDIA Holding on Tuesday said the state's Pension Reform and Debt Reduction Fund acquired 5.14% of its shares, just over the disclosure threshold, after a transfer of private pension fund assets.

The fund acquired 3,520,500 EST MEDIA Holding shares, the company was told.

The shares have a market value of almost HUF 100 million, calculating with their closing price on Tuesday.

Hungarian members of private pension funds had until the end of January to opt out of a move, along with their retirement savings, back to the state pension pillar. About 97% of members returned to the state pillar, bringing their assets with them.