Hungary: OTP Approaches Acquisition of MKB

People ♦ Published: April 3, 2014; 15:36 ♦ (Vindobona)

MKB, the Hungarian loss-making affiliate of German regional lender BayernLB, is approaching its acquisition by the biggest lender OTP.

MKB is likely to be taken over by Hungary's biggest lender OTP. / Picture: © Wikipedia / Marsupilami

According to three insiders, the banking institutes have intensified negotiations over the past weeks and are expected to reach an agreement soon. However, the question of the value of MKB stil has to be discussed.

The take-over of MKB would be a win-win situation for both OTP and BayernLB: Any acquisition by OTP would further strenghten the Hungarian lender’s market position…