January 3, 2014 / 1:16 PM / 4 years ago

CORRECTED-Hungary to sell stake in savings bank Takarekbank

1 Min Read

(Corrects in 2nd paragraph to show Jan. 15 is deadline for tender, not for bids)

BUDAPEST, Dec 18 (Reuters) - Hungary's government plans to sell its majority stake in savings bank Takarekbank in an open, international tender, according to a government decree published in the official gazette Magyar Kozlony.

The deadline for the issuing of the tender is Jan. 15, 2014 and bids will be evaluated by March 15 according to the decree.

The state holds an over 35 percent stake in Takarekbank via state development bank MFB and a further 19.3 percent stake via the state-owned Hungarian Post.

Prime Minister Viktor Orban's conservative government took control of the savings bank sector earlier this year and overhauled it with measures including an at least 100 billion forint capital injection. (Reporting by Krisztina Than)

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