Hungary plans to buy 15 pct stake in Erste's local unit by the end of March

January 15, 2016 7:36 AM

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BUDAPEST Jan 15 Hungary expects to close a planned deal to buy a 15 percent stake in the Hungarian unit of Erste Bank by the end of the first quarter, an Economy Ministry state secretary told daily Magyar Idok on Friday.

Under a deal signed in February 2015, the Hungarian state and the European Bank for Reconstruction and Development (EBRD) will between them take a stake of up to 30 percent in the local unit of Austria's Erste.

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