Hungary Bank Owner Blames Press For Raiffeisen Deal Failure
- 18 Jan 2014 8:00 AM
István Töröcskei blamed in part press reports for the failure of talks between Széchenyi Bank and Raiffeisen Bank International on the purchase of RBI’s business in Hungary, an interview with the Széchenyi Bank owner in Austrian daily Der Standard reveals.
He said the reports on the talks had been “hastily” made public. “That is in part why things turned out as they did.” RBI said early in January that it had reviewed offers to buy the Hungarian unit, but had decided against parting with the business “under current conditions”.
Széchenyi Bank had offered a token EUR 1 for the unit, also promising to take over its bad loans, according to press reports. Töröcskei, who is also CEO of the Hungary Government Debt Management Agency (ÁKK), told the Austrian daily that the proportion of Hungarian ownership in the domestic banking system should be raised. “The state can help start the process,” he added.
Source www.hungarymatters.hu
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