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PM names targets for public ownership scheme

Prime Minister Ferenc Gyurcsány has named state-held companies that are to be included in the government’s plan of providing public ownership stakes in budget companies.

Gyurcsány said that lottery company Szerencsejátek, Hungarian electricity works MVM, postal service Magyar Posta and the state motorway management company ÁAK could be among the state-owned companies to be listed at the Budapest Stock Exchange.

Speaking during a Wednesday-morning television program, Gyurcsány said that the state-owned Volán bus companies are not among the frims whose shares the government might float on the BSE as part of a program announced on February 18.

The prime minister added that the government's current plan would stipulate a 10%-15% preference and a Ft 1 million limit per individual on the purchase of the shares of state-owned companies to be included in the program. Gyurcsány said that 5% of the price of the shares would have to be paid at the time of their subscription. (MTI-Econews)