EC extends review of MÁV Cargo purchase
The European Commission has extended by ten days its competition review of the purchase of MÁV Cargo, the spun-off freight unit of state-owned Hungarian railway company MÁV.
The review of the privatization by Rail Cargo Austria came because of commitments made by Rail Cargo Austria, Dow Jones reported from Brussels on Tuesday.
The new deadline is October 13.
The Commission would not specify what the commitments were, but these often include divestments in areas of high market concentration, Dow Jones said.
Rail Cargo Austria, in a consortium with GySEV, a railway company owned by the states of Austria and Hungary, won a bid for MÁV Cargo with an offer of Ft 102.5 billion in November, 2007.
The contract for the deal was signed in January. Rail Cargo Austria also promised to invest Ft 43.5 billion in the company within five years. (MTI – Econews)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.