Bloomberg News

Hungary Offers $17 Million for Takarekbank Stake, Index Reports

May 17, 2012

Hungarian state-owned development bank MFB Zrt. is offering 4 billion forint ($17 million) for DZ Bank AG’s 38 percent stake in Takarekbank Zrt., news website Index reported, without identifying its sources.

Acquiring the stake in Takarekbank, which is majority owned by Hungarian savings cooperatives, would give the state access to the savings banks’ network of 1,600 branches, more than four times as many as are run by OTP Bank Nyrt. (OTP), the country’s biggest listed lender, Index said.

To contact the reporter on this story: Andras Gergely in Budapest at agergely@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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