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Austria: Hypo Group Still Sailing in Stormy Waters
People ♦
Published: March 12, 2013; 09:56 ♦ (Vindobona)
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Hypo Group wants a fast selling until the end of 2013. Vending of Italian and CESEE subsidiaries could take longer as the economic situation is not appealing at the moment.
Austria: Hypo Group Still Sailing in Stormy Waters / Picture: © KPMG - Pressefoto Gottwald Kranebitter
There seems no end to the debate about the nationalized bank Hypo which was formerly part of the German BayernLB. First of all, there is the multi-billion Euro lawsuit by former parent company BayernLB. Then, there is the EU commission pressing the Austrian government, which up to now has spent approx. € 1.85bn since the nationalization in 2009, for a fast closure of the bank. EU…
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