January 25, 2019 / 8:29 AM / 7 months ago

Hungary to prepare Budapest Bank sale - official gazette

BUDAPEST, Jan 25 (Reuters) - Hungarian Prime Minster Viktor Orban has instructed his cabinet to hold talks with banks that could buy Budapest Bank at a price equal to or above what the state paid for the bank, according to an announcement in the official government gazette late on Thursday.

Orban instructed the minister responsible for state assets to conduct such talks and inform the cabinet about the results by June 30, the gazette said. The government bought Budapest Bank from the financial arm of General Electric in 2015 for $700 million. (Reporting by Marton Dunai and Sandor Peto; Editing by Kevin Liffey)

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