VIENNA, Dec 11 (Reuters) – Austria’s highest administrative
court rejected on Thursday Deutsche Telekom unit T-Mobile’s
attempt to nullify an auction of mobile frequencies which
brought the state 2 billion euros ($2.5 billion) in 2013.
Had it ruled differently, the auction would have had to be
repeated, which could have delayed the availability of faster
mobile services in Austria and put a hole in Austrian finances.
Its ruling is now final.
VIENNA/BUCHAREST, Dec 10 (Reuters) – Banca Transilvania
, Romania’s third-biggest bank, said on Wednesday it
will buy part-nationalised Austrian lender Volksbanken AG’s
Romanian business in a deal triggered by
Volksbanken’s radical shrinking cure.
Neither side disclosed financial details of the acquisition
although Banca Transilvania described the price as “reasonable”
for both sides.
FRANKFURT/VIENNA, Dec 5 (Reuters) – European Central Bank
policymaker Ewald Nowotny on Friday backed ECB President Mario
Draghi on steps to revive the euro zone economy with new
stimulus, while Germany firmly maintained its opposition to
buying sovereign bonds.
The support of Nowotny, Austria’s central bank chief, may
prove crucial for Draghi as he seeks to expand the scale of ECB
action next year, most likely including quantitative easing
(QE), the printing money to buy government bonds.
VIENNA (Reuters) – Austria bungled its handling of stricken lender Hypo Alpe Adria [HAABI.UL] and let former owner BayernLB off the hook when nationalizing Hypo in 2009, a panel of experts looking into the affair said on Tuesday.
Under pressure over the mounting costs of winding down Hypo, the government created the five-member panel of financial and legal experts in March.
VIENNA, Nov 28 (Reuters) – Austria has re-opened the sale of
the Balkan network of nationalised bank Hypo Alpe Adria
, with no exclusivity for a bidder group led by Advent
International, sources close to the matter said on Friday.
Hypo had agreed in principle to sell the asset to U.S.
private equity group Advent and the European Bank for
Reconstruction and Development (EBRD).
VIENNA (Reuters) – Polish central bank head Marek Belka is worried that the zloty will rise against the euro, a move that would hamper business and could affect interest rate policy, he told Reuters on Monday.
The zloty is not overvalued now, he said in an interview at an economics conference in Vienna.
VIENNA, Nov 24 (Reuters) – A senior European Central Bank
policymaker played down prospects on Monday for any immediate
buying of government bonds by the ECB, underscoring scepticism
about such a move to print money in the euro zone.
Asked by reporters what would prompt further ECB action,
such as adding state bonds to its shopping list of assets, Ewald
Nowotny, a member of the ECB’s governing council, said that
while that question could arise, it had not done so yet.
VIENNA, Nov 20 (Reuters) – Raiffeisen Bank International
added Asia to its headaches in Ukraine and Hungary,
seeing a hit from exposure to Asian coal mines the bank
inherited when a loan went sour.
The Austrian group’s third-quarter profits also fell in
Russia as a weakening rouble undercut strong operating results.
Senior Muslim, Christian and Jewish leaders condemned violence by jihadi militants such as Islamic State (IS) at a Saudi-backed conference on Wednesday in a rare display of inter-faith unity aimed at promoting tolerance and diversity.
VIENNA, Nov 18 (Reuters) – Vienna Insurance Group
is turning round its problematic Romanian business but may still
post a small loss in Italy next year as it unwinds a disastrous
foray into car insurance there, Chief Executive Peter Hagen
Hits from Italy and Romania had pushed 2013 pretax profit
down 37 percent at Austria’s biggest insurer, but profit in the
first nine months of 2014 rose 36 percent, fuelled by central
and eastern Europe units that make over half of group earnings.