Austrian FinMin invites HGAA stakeholders for talks

VIENNA | Thu Dec 10, 2009 1:17pm EST

VIENNA Dec 10 (Reuters) - The Austrian finance ministry has invited stakeholders in Hypo Group Alpe Adria (HGAA) to a round of expert level talks in the coming days as part of an effort to find a solution for the troubled lender.

"We see movement on the part of some sides, there were constructive talks in recent days," a spokesman for the finance ministry said.

"There are different proposals on the table, and we have to clarify what is valid and what isn't."

A source familiar with the matter told Reuters that the Munich-based Landesbank BayernLB [BAYLB.UL] wants to unload its controlling stake in HGAA to Austria, since it doesn't want to participate in a 1.5 billion euro ($2.21 billion) bailout.

(Reporting by Boris Groendahl)

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