Hungarian financial market regulator PSzÁF has approved the acquisition by Austria's VCP Finanz Holding of a further stake in Hungary's FHB Mortgage Bank which brings its voting rights to 19.9%, the decision posted on PSzÁF's website shows.
VCP Finanz Holding raised its voting rights in FHB Mortgage Bank to 19.9% after acquiring 3.175 million shares from HSBC on June 8, on the basis of a conditional forward agreement signed in December 2007. VCP Finanz Holding held 6.5 million FHB shares, conferring 10.05% of voting rights at the end of March. The share packet was combined with the 3.2 million shares, conferring 4.95% of voting rights, held by VCP Finanz Beteiligung. (MTI-Econews)