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Mahart restructuring suffers setback

The board of the State Privatization and Holding (ÁPV) Rt on Friday decided not to invite any of the bidders for the government?s 99% stake in Budapest Free Port Logistics Rt to take part in the second round of the tender. The ÁPV has cancelled the tender after it found two of the bids it received to be invalid. The expected real competition has thus become impossible, the ÁPV said. The privatization agency called a three-round open tender early July for the sale of Budapest Free Port, which was split off from Mahart-Free Port Rt and holds the operating rights of the port for the next 75 years.