Proposed bill could smooth MFB’s acquisitions procedure

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The Hungarian government submitted a bill to Parliament yesterday that would facilitate the process by which the Hungarian Development Bank (MFB) makes acquisitions, Hungarian news agency MTI reported. 

Cabinet chief János Lázár who proposed the bill said it would amend the law on the MFB by giving the bank a "more flexible means of making decisions" regarding its direct and indirect acquisitions "within the framework of the law on national assets".

MFB recently acquired gas distributor Főgáz and used the company to launch the First National Utilities Company (ENKSZ) this spring. The intent of the national utilities company is to provide energy at fair prices and to enhance security of supply.

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