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Europe Daily Bulletin No. 9768

24 October 2008
Contents Publication in full By article 26 / 35
GENERAL NEWS / (eu) eu/state aid
Hungary must terminate indemnity for Erste Bank

Brussels, 23/10/2008 (Agence Europe) - On 22 October 2008, the European Commission asked Hungary to terminate the indemnity for unknown claims that it provided to the buyer, Erste Bank, when Postabank was privatised. After an in-depth investigation launched in October 2004, the Commission concluded that the measure contravened state aid rules because a prudent private seller would not have granted such an unlimited indemnity to Postabank's purchaser. Although the indemnity for unknown claims...

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