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Germany´s WAZ Group buys 75% of HVG

WAZ Group, a German publisher of regional newspapers, bought 75% of HVG Rt, publisher of Hungary's biggest weekly magazine, for an undisclosed price to expand in Eastern Europe.

HVG sells 112,000 copies a week.

The transaction has yet to be approved by HVG's shareholders. HVG has reported sales of more than Euro 20 million and employs 200 people The ÁPV board on Thursday decided to invite bids for Postabank, with details to be published on Tuesday.

(BBJ 16.vi.03)

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