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MVM to develop, operate govt electronic backbone network

An extraordinary general meeting of the state-owned Hungarian Electricity Works (MVM) on Friday decided the company would develop and operate the electronic backbone network for the government, MVM communications director György Felkai told MTI.

By taking on the task of developing and operating the network, MVM will take a "significant role" on the telecommunications market, Felkai said.

The general meeting also decided MVM would buy out a minority stake from Euroinvest in Bakonyi Villamos Művek Termelő, which owns Hungary's first peaking power plant.