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EU Commissioner Open for Extension of Deadline for Hypo Group

Politics ♦ Published: July 3, 2013; 14:19 ♦ (Vindobona)

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EU Competition Commissioner Joaquin Almunia presented himself open to the extension of the winding-down of Hypo Group.

EU Commissioner Open for Extension of Deadline for Hypo Group / Picture: © European Commission

Austria has requested an extension of time for the selling of the ailing banking institute Hypo Alpe Adria. Today Almunia announced that flexibility in regard to the deadline, particulary with the Balkan subsidiaries, was possible if the restructuring plan was credible.

On Monday, the Finance Ministry announced that the selling of all units until the end of 2013 was successfully…