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State could acquire majority stake in Malév

The Hungarian state could acquire a majority stake in the national airline company Malév by converting its public debts of HUF 19 billion into shares, Finance Minister Peter Oszkó said in a television news program.

The talks are still underway, he added.

The finance minister emphasized that the state is not repurchasing the holding privatized earlier, but will become co-owner in the company by converting the existing receivables to a state-owned stake.

He said it is unlikely that the state would be able to enforce its claims, while it could benefit from the economic and tourism points of view as majority owner of Malév, which could even operate profitably after a strategic restructuring. (MTI – Econews)