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| State sells 50 pc stake in mortgage bank FHB |
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Budapest, August 30 (MTI) - Hungarian privatisation agency APV sold a 50 percent stake in mortgage bank FHB on Wednesday for 2,025 forints per share to "international and Hungarian institutional investors", APV said on the stock exchange's (BSE) website on Thursday After the transaction in which 33 million shares changed hands, APV's stake fell to 4.1 percent. FHB is the last commercial bank in state hands and its sale will complete the privatisation of Hungary's banking sector. The income generated from sale is expected to be 66.8 billion forints. This could reduce the budget deficit by 0.2-0.3 percent of gross domestic product this year. APV had just 220 million forints in privatisation revenue so far this year.
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Source: MTI; 20070831 |
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