Business
Hungary OTP asks Uzbekistan to delay Ipoteka takeover
The news agency reminded that OTP's share price took a fall of nearly 30% since Russia invaded Ukraine, Hungary's eastern neighbour, on 24 February.
Csányi, speaking in Ljubljana on Monday, cited the uncertainty created by the war as the reason to put off the acquisition of a 75% stake in Ipoteka, a deal first announced in September.
The takeover was ready to be signed when the war broke out in Ukraine,
OTP's chief told Bloomberg.
In September 2021, Uzbek Deputy Prime Minister Jamshid Kuchkarov announced at an economic forum in Tashkent the sale of 75% of state-owned Ipoteka Bank to Hungarian OTP Bank, with the deal to be completed within two months.
