EU Approves State Aid for Hypo Group

Business › n.a. ♦ Published: December 5, 2012; 21:31 ♦ (Vindobona)

The EU Commission has no objections against the state aid with a size of € 1.5bn.

EU Approves State Aid for Hypo Group / Picture: © Vindobona.org

Today, the EU Commission as officially approved the state aid for the financially stricken nationalized bank. In total, Hypo Group´s capital shortfall comes at € 2.2bn. Next year, Hypo Group must achieve an equity quota of 12.04%.

According to Commissioner Joaquin Almunia, Austria has to submit a comprehensive plan containing the sale of the operating segments of the bank.…

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