Hungarian central bank confirms acquisition of Budapest bourse

By bne IntelliNews November 23, 2015

Hungary’s central bank confirmed on November 23 that it has bought a majority stake in the Budapest Stock Exchange (BSE), verifying earlier media reports.

The deal will be announced at a news conference scheduled for November 24, at which the Magyar Nemzeti Bank (MNB) will provide more details, Portfolio.hu reports. The title of the news conference is “Hungary's Stock Exchange once again in national ownership”.

According to reports in the local media on November 20, the MNB bought a 75% stake in BSE for HUF13.2bn (€42.5mn). Prior to the deal, the MNB held a 6.9% stake, while the majority owner was Austria's CEE Stock Exchange Group with a 50.5% stake. Austrian Oesterreichische Kontrollbank AG held 18.35%.

Last month, MNB Deputy Governor Laszlo Windisch said the central bank wanted to take control of BSE and list shares of state-owned companies on the bourse in a bid to invigorate activity on the bourse that has been steadily declining over the past few years. Until now, the poor relationship between the government and the bourse virtually ruled out the floatation of state-owned companies, analysts argue. Power company MVM, gambling firm Szerencsejatek and MKB bank have been mentioned as potential IPO candidates.

Related Articles

Kazakh Kazkommertsbank confirms talks on deal with Halyk Bank

Kazakhstan’s largest bank Kazkommertsbank (KKB), recently rebranded as Qazkom, has entered preliminary negotiations for an unspecified “deal” with Halyk Bank, KKB said in ... more

Slovenian government approves privatisation plan for 2017

Slovenia’s government approved Slovenian Sovereign Holding’s (SSH) 2017 privatisation plan on January 19. The plan includes the sales of two 100% state owned banks, Slovenia’s largest lender ... more

Blow for Russian stocks as Kremlin backs away from higher dividend payouts

Russian stocks are facing a serious setback after it emerged that the Kremlin may be backing out of a decree to force state-owned companies to pay dividends worth 50% of their earnings. The ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss