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MÁV submits offer in consortium

A consortium of Hungarian railway company MÁV Rt and Slovakian mergers and acquisitions consultancy Slavia Capital submitted an offer yesterday for Slovakia's state-owned rail cargo company ZSSK Cargo, MÁV announced. Slovakia is the first country in the region to sell its cargo segment of its state-owned railway company. Fourteen companies participated in the first round of the tender for the 100% stake in ZSSK Cargo, and second-round binding bids had to be submitted by January 31. MÁV said the synergy between ZSSK Cargo and MÁV Cargo, MÁV's cargo unit, which it spun off at the start of 2006, could make the companies the leading cargo provider in the region.