March 20, 2017 / 3:39 PM / 8 months ago

China's CEFC asks for Czech approval to raise J&T stake

PRAGUE, March 20 (Reuters) - Chinese investment group CEFC has asked for regulatory approval for raising their stake in J&T Finance Group by acquiring shares from the Czech-Slovak financial group’s founders Ivan Jakabovic and Jozef Tkac, the anti-monopoly regulator UOHS said on Monday.

CEFC and J&T had last year announced the deal in which the Chinese group would raise its stake in J&T, including banks in the Czech Republic and Slovakia to 50 percent from 9.9 percent.

Reporting by Jason Hovet

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