Bourse president proposes listing Budapest Airport as condition for sale
Monday, October 17, 2005, 14:32
Budapest Stock Exchange (BÉT) president Attila Szalay-Berzeviczy has proposed in an open letter to Prime Minister Ferenc Gyurcsány that listing Ferihegy Airport operator Budapest Airport Rt on the stock exchange should be made a requirement for any potential buyer of the company. The State Privatization and Holding (ÁPV) Rt will soon call another tender for a 75% minus one vote stake in Budapest Airport, after the previous tender was invalidated because ÁPV failed to consult with workers in advance.
Szalay-Berzeviczy said in the letter it is in every government's interest to boost turnover on the national stock exchange. He cited Mol, OTP, Richter and Magyar Telekom as successful examples of formerly state-owned companies that were listed. He added that the expense of listing Budapest Airport on the exchange would be minimal for any potential buyer as the bourse charges nothing for the initial public offering.