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Hungary buys E.ON gas business for well under max price

Hungary has purchased E.ON's gas business in Hungary for well under the maximum price decided by the government, Prime Minister Viktor Orbán said on public radio on Friday. Orbán said all agreements on the transaction had been reached and only technical details remain to be worked out. On November 30, Orbán and chairman-CEO of E.ON Johannes Teyssen signed a declaration of intent on the transfer of E.ON's gas business to MVM. The contract on the sale was to have been signed by January 31, 2013.