Erste Group: Core Shareholder Endangered to Reduce Stake

Business › n.a. ♦ Published: December 28, 2011; 15:01 ♦ (Vindobona)

Erste Group´s main stockholder, the Erste Stiftung, needs 2012 dividend to avoid stake sale.

Erste Group: Core Shareholder Endangered to Reduce Stake / Picture: © Vindobona.org

Erste Group Bank AG’s biggest shareholder may have to sell part of its stake should eastern Europe’s second-largest lender not pay a dividend for a second straight year in 2012, according to Andreas Treichl, the head of both the firm and the stockholding foundation.

Treichl said Oct. 10 that Erste Stiftung could do without dividends for two years when the bank announced it…

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