Politics

Austrian Government Desperate to Sell Hypo Group

Published: May 16, 2013; 11:19 · (Vindobona)

Without an agreement for a new plan and without more time for the selling of the Eastern affiliates, the crisis-struck banking institute Hypo Alpe Adria Group will not be able to make up the balances anymore, according to Austrian newspaper Presse.

Austrian Government Desperate to Sell Hypo Group / Picture: © Wikipedia / JJ55 (30 March 2008)

In case of a selling of the CESEE banks until 2014 at the latest, and in case the establishing of a bad bank was postponed to after the elections in autumn, Hypo would have to write off CESEE participations due to a lack of positive continuance prognosis. The bank would therefore need a further amount of € 2.5bn in support by the owner, the Austrian state as early as June.…

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Austrian Government Desperate to Sell Hypo Group

Without an agreement for a new plan and without more time for the selling of the Eastern affiliates, the crisis-struck banking institute Hypo Alpe Adria Group will not be able to make up the balances anymore, according to Austrian newspaper Presse.

Join us to succeed in Vienna!
Sign up to read articles for free and to get personalized updates on the events that interest you.