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New law opens privatization opportunities

The new trustee law passed by the government yesterday will provide opportunity for partially or completely privatizing several large state-owned companies.

According to the new law, the currently 100% state-owned gambling company Szerencsejáték Zrt will not necessarily remain the property of the state, and the Postal Service and state-owned electricity works MVM might be partially sold as well. According to the bill, in the case of the postal and electricity utilities, state ownership can be reduced to 75% plus one vote from the current 100% ownership, i.e. state management would be maintained. At the same time, the privatization of state-owned railway company MÁV and west Hungarian railway operator GYSEV is off the agenda at the moment. (Napi Gazdaság))