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VCP says takeover Hungary's FHB not on the agenda

Austria's Vienna Capital Partners (VCP) has no plan to take over Hungarian mortgage bank FHB in which it already has a significant stake, VCP's leading partner said.

“I don't want an influence (stake) which would lead to a takeover of the bank,” said Heinrich Pecina was quoted as saying in an interview with economic daily Napi Gazdaság.

VCP acquired the right in December to buy up to 9.5% of the voting shares of FHB, valid until December 22, 2009, on top of an almost 10% stake it already held.

Pecina did not disclose whether VCP planned to exercise the option.

He said he was not worried over a 13% fall in FHB's share price this year to Ft 1,590 ($8.86) by Friday's close.

“FHB is a good company in the long term,” he said. (Reuters)