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Report: Hungary looks to close Erste Bank stake buy by June

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Report: Hungary looks to close Erste Bank stake buy by June

Hungarian Economy Minister Mihaly Varga said the country'sgovernment hopes to close its acquisition of a 15% stake in Erste Bank Hungary Zrt. by June, Reuters reported May 5.

Without giving details, Vargas said Hungary would pay thesame amount that the will pay forits 15% stake in the Erste GroupBank AG unit, the newswire noted.

A spokesman for the EBRD reportedly said that the groupintends to sign adeal agreement in the second quarter.