The European Commission has extended the deadline for the sale of Hypo bank in Croatia to the 2015th year, the Austrian press published on Monday, claiming that Austria is achieved with the EC compromise to rehabilitee of Hypo.
Brussels has accepted the rehabilitation plan of Hypo, said Monday newspaper “Die Presse” citing sources in the European Commission. According to the same source, the European Commission gave the green light for state aid to Austria Group. The Commission has extended the deadline for the sale of 250 bank branches in Croatia, Slovenia, Bosnia and Herzegovina, Serbia and Montenegro.
Early this year The Commission has requested the bankruptcy, as the Austrian Finance Minister Maria Fekter proposed a compromise, which was accepted. It provides the sale of Austrian branch to investor in India by the end of the year, closing offices in Italy and the extension of the deadline for the sale of branches in Croatia and other countries in South East Europe
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