Hypo Group Purchase by BayernLB was "unrealistic"

People ♦ Published: January 20, 2011; 00:01 ♦ (Vindobona)

The former chairman of BayernLB’s Supervisory Board said that the bank cheated itself on the purchase of the Hypo Group.

Hypo Group Purchase by BayernLB was "unrealistic" / Picture: © Hypo Alpe-Adria-Bank International AG

Within the framework of the investigation committee on the Hypo Group, the Austrian and German prosecutors said: "The circumstances of the acquisition of Hypo Alpe Adria by the by BayernLB have been largely clarified. A continuation of the cooperation of the joint investigation team has been agreed on."

Accordingly, the first indictments are expected soon. The initial assumption…