The deadline for the econet.hu-owned EST Media Group's purchase of a further stake in the Sziget Kulturális Menedzser Iroda, which organizes Hungary's annual Sziget Festival, has been extended from October 15 to November 29, econet.hu reported on Friday morning.
EST Media Group, which currently owns 26% of the Sziget Kulturális Menedzser Iroda, signed a contract in 2007 to gradually acquire a 100% stake in the company for a price of at most HUF 5 billion.
Econet.hu owns 100% of EST Media Group. Econet.hu, which trades in the A-category at the Budapest Stock Exchange, did not reveal the price of the purchase. (MTI-Econews)