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Budapest taxi companies Rádiótaxi and Tele 5 have joined forces to become Hungary's largest taxi operator with a fleet of nearly 900 cars, daily Népszabadság reported.
The merger was not conditional on approval from the competition authority as the new company has a 20% share of the market in Budapest. The link-up is seen as a result of the increasingly unrealistic price battle among taxi companies in Budapest.
Taxi rides in the capital can be cheap as HUF 150 a kilometer, which is too low to even cover costs, the newly merged company said. (BBJ)