RZB´s Rothensteiner: „Not Interested in VBAG“

More+Comment ♦ Published: April 28, 2012; 19:45 ♦ (Vindobona)

Walter Rothensteiner, CEO of Raiffeisen Zentralbank (RZB), does not see a suitable takeover target in the partly nationalized VBAG.

RZB´s Rothensteiner: „Not Interested in VBAG“ / Picture: © Raiffeisen Zentralbank Österreich AG / Peter Rigaud

Yesterday, VBAG became partly nationalized. The Austrian state now holds 43% in the financially stricken bank. RZB, which holds a 0.9% stake, wrote off its interest completely. According to Rothensteiner, this caused a one-time effect of € 30m. Rothensteiner adds that RZB received dividends of VBAG for years.

VBAG also holds a 5% stake in RZB, which was planned to sell. RZB…