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VIG says EU order on Hungary to withdraw merger veto has no impact on deal with state holding

By Andrew Boyce ( February 22, 2022, 11:22 GMT | Insight) -- Vienna Insurance Group says an EU order for Hungary to withdraw its veto on the insurer’s acquisition of Aegon’s national unit has no impact on a side deal it struck to give a Hungarian state-owned company a minority stake in the business. The Austrian insurer said it had long been in talks with Hungary about its strong market position, and the cooperation with the country would allow it to avoid lengthy and costly legal proceedings.Vienna Insurance Group says an EU order for Hungary to withdraw its veto on the insurer’s acquisition of Aegon’s national unit has no impact on a side deal it struck to give a Hungarian state-owned company a minority stake in the business....

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