Hungary is reversing the
privatization of its stock exchange. For this purpose, Hungarian National Bank
(MNB) buys from the Austrians their majority on the Budapest Stock Exchange.
Wiener Börse AG (50.45%) and the Kontrollbank (18.35%) were not yet ready to
comment this news on Monday.
However, Hungarian media reported
today that the Hungarian central bank has already secured its stock market
majority and is trading with the Vienna Stock Exchange. According to a report
by the Hungarian news agency MTI, the deal has already been completed. The
Hungarian central bank had until now a smaller stockpile of almost seven
percent on the Budapest Stock Exchange, and the state is also involved in state
enterprises and banks.
According to the portal www.napi.hu, the share purchase price has been
3.550 forint and the price for the Austrian package amounts to 13.2 billion
forint (or 42.6 million euros). Thus, the total value of the Budapest stock
exchange would be 19.2 billion Forint.
Eastern network is getting smaller
In May 2004, Wiener Börse AG and
four Austrian banks jointly acquired the majority of 68% of the Budapest Stock
Exchange. In 2008, the Vienna Stock Exchange and the Austrian Control Bank
purchased the bank consortium. The Budapest stake was held in Vienna via the
stock exchange holding company CEESEG (CEE Stock Exchange Group).
The Eastern European network of the
Vienna Stock Exchange is currently shrinking. In July, the stock market sold
its 100% on the Ljubljana exchange to the stock exchange of Zagreb, on
condition that they keep all official permits. The closing of this deal in
Slovenia is expected in the end of this year. The stock exchange of Ljubljana was
the smallest stock exchange of the CEESEG holding company in Vienna.
Translated by: Elena Garanina
(08.02.2017)
Source:
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