Hypo Alpe Adria revamp plan gets EU nod - sources
VIENNA, Sept 2
VIENNA, Sept 2 (Reuters) - The European Commission has conditionally approved the Austrian government's reorganisation plan for nationalised lender Hypo Alpe Adria, paving the way for the bank to get more state aid, three Austrian sources close to the matter said.
The approval covers the bank's plan to sell its Balkans banking network by 2015 and wind down an Italian unit while relying on state support. "There are still some technical questions," one of the sources said. The Austrian finance ministry declined comment.
Hypo Alpe Adria last week reported a first-half group loss of 860 million euros ($1.13 billion), leaving a gap in its capital to be filled with 700 million euros in additional state funds.
($1 = 0.7584 euros) (Reporting by Michael Shields; Editing by Louise Heavens)
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