MVM sees 'good chance' for acquiring peer’s majority

Telco

State-owned Hungarian Electricity Works (MVM) has a "good chance" of acquiring a 66% stake in Slovakian peer Slovenske Elektrarne from Italy's ENEL, chairman-CEO Csaba Baji said at a press conference yesterday.

The offer is "past the first heat", Baji said referring to the joint, non-binding offer MVM and Slovnaft, the Slovakian unit of Hungarian oil and gas company MOL, made for the stake last year. The chairman expects the decision to be made by April.

According to his estimates MVM's consolidated revenue reached HUF 1.2 trillion last year.

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