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Malév closer to sell-off

The contract for the takeover of Hungarian airlines Malév Rt by KrasAir could be signed as soon as August 15, news wire MTI reported citing a Russian business daily. The Russian airline's chief executive Boris Abramovich will start negotiating on the privatization of the Hungarian state's almost 100 % stake in Budapest next week, said Kommersant on Friday. Hungary's State Privatization and Holding Company (ÁPV) said yesterday that a bid by AirBridge, a consortium headed by Abramovich and a group of Hungarian investors, was the best it had received.