Hungary May Announce State Buyout of Two Energy Firms This Year-Minister
October 16 2013 - 6:01AM
Dow Jones News
By Veronika Gulyas
BUDAPEST--Hungary may announce the state buyout of two energy
companies before the end of this year, the country's development
minister Zsuzsa Nemeth said Wednesday.
The Hungarian government is in talks with several energy
companies on a possible state buyout, Mr. Nemeth said on the
sidelines of a press briefing. This is in line with the
government's aim to increase state ownership in the sector and
eventually create a non-profit household utility segment.
The government has already bought the Hungarian natural gas
business of German energy giant E.On AG (EONGY) and has bought the
natural gas storage facility from Hungarian oil and gas firm MOL
Nyrt (MOL.BU).
The government is also in talks to buy back natural gas utility
Fogaz Zrt., in which Germany's RWE Gas International B.V. (RWEOY)
owns a 49.83% stake, Prime Minister Viktor Orban said earlier.
The government's aim besides cutting energy and utility costs
for households is to decrease the country's energy dependency.
Write to Veronika Gulyas at veronika.gulyas@wsj.com
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