French-owned Suez Environnement Hungaria will take all legal measures to halt steps by the local council of Pécs to renationalize the city waterworks, managing director Zoltán Csorba said at a press conference in Budapest on Wednesday.
The local council broke Suez's contract to operate the waterworks in September, after it failed to reach an agreement with the company on buying back its stake in the utility. In early October, the local council set up a company to take over operation of the waterworks.
Csorba said Suez wants its ownership rights to be recognized before it starts any negotiations with the local council.
The local council of Pecs owns 50.05% of the waterworks, Suez holds 48.05% and 1.9% is in the hands of other local councils. (MTI-Econews)