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MÁV considers decreasing registered capital

Hungarian railway company MÁV Rt?s book capital has come near the level of its registered capital, business daily Világgazdaság. As one of the possible solutions to keep to capital correspondence index the company?s board suggested to decrease its capital from Ft 200 billion to Ft 78 billion at the board meeting held on3 August. No decision has been made yet. However, the two major trade unions fear that since the new registered capital will only amount to the half of the debt service, MÁV will not be given loans any more and orders will have to be paid in advance.