Deals
EU Orders Hungary to Cancel Veto for Aegon-VIG Deal
- Hungary has March 18 deadline to withdraw veto or face lawsuit
- EU says veto was incompatible with freedom of establishment
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Hungary was ordered by the European Union to cancel its decision to block the sale of Dutch insurer’s Aegon NV’s local unit to Vienna Insurance Group AG.
The European Commission gave Hungary a March 18 deadline to withdraw the deal veto or it would take Hungary to the EU courts for violating the EU’s exclusive right to approve the deal.