Malév may be sold this week
Monday, January 8, 2007, 16:10
The Hungarian government is expected to announce a winner in the sale of its unprofitable carrier, Malév Zrt, on January 11 and sign the contract four day later, right-wing daily Magyar Nemzet reported citing unnamed sources.
Two of the three bidders the government's asset sales agency picked for final negotiations would keep Malév's current management, while one would give a 5% stake to each member of management, the newspaper said, without naming the companies.
The sale is Hungary's seventh attempt to find a buyer for Malév, with the priority being the assumption of Ft 30 billion ($153 million) of debt at the carrier, the price and the proposed business plan, the newspaper said.
Hungary is in talks with Ofer Hava, an entrepreneur in a group with former Aer Lingus Chairman Tom Mulcahy, OAO KrasAir owner Boris Abramovich's Airbridge Zrt and Lithuanian airline owner LAL investiciju valdymas.