Austria Wants to Unload Hypo Group

Professional ServicesBanks ♦ Published: September 18, 2012; 22:20 ♦ (Vindobona)

In 2009, BayernLB sold the financially stricken bank to the Austrian state. Now, the Austrian Republic may appeal against the sale.

Austria Wants to Unload Hypo Group / Picture: © Wikipedia / JJ55 (30 March 2008)

The Austrian Republic considers appealing against the acquisition of Hypo Group in late 2009. The bank was nationalized after BayernLB did not want the keep the banking group anymore. Now, the Austrian Republic is said to try to reverse the sale because of misleading. BayernLB is accused to have withheld details on the financial situation of Hypo Group.

BayernLB did not comment…