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Watchdog approves state bid for Rába

Financial-market regulator PSZÁF has approved the Hungarian National Asset Management Company's offer for Hungarian automotive company Rába, the latter company reported on Wednesday evening.

On Monday the national asset manager made a public purchase offer for Rába at a price of HUF 815 per share. The state of Hungary currently holds a 16.15% share of Rába through various funds, companies and organizations.