Hungary Offers $17 Million for Takarekbank Stake, Index Reports

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

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.