State plans more nationalizations
MKB bank was just an appetizer. After announcing its intention to buy the German-owned bank, the Hungarian government is about to acquire rolling stock joint venture Bombardier MÁV.
The buyout process from foreign shareholders is expected to be completed soon, National Development Minister Miklós Seszták said today in Hungarian business daily Napi Gazdaság. The minister added the state could take over full ownership of the Hungarian Electricity Works (MVM) as early as this fall, after an amendment is passed by the Parliament. The Hungarian state currently owns more than 99% of the energy wholesaler.
The government is also eyeing the sewer network of Budapest (FCSM) and the capital's public-area maintenance company (FKF) and says the acquisitions are part of a plan to raise the state’s stake in sectors of strategic national importance.
Hungary Gasoline Prices 3% Over Regional Avg
Gov't Wants Sustainable Business Model for Magyar Posta
120,000 Guest Workers Employed in Hungary
Budapest Airport Wins 'Best Airport in Eastern Europe' for 1...
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
