The train will cover the 184-kilometer section between Subotica and Belgrade in 70 minutes.Continue reading
The Hungarian state has received the approval of the Austrian Federal Competition Authority to acquire Strabag’s stake in Győr-Sopron-Ebenfurti Vasút (Raaberbahn or GYSEV, Hungarian-Austrian railway company), Minister of Construction and Transport János Lázár said on his Facebook page.
As Strabag has already announced that it does not consider its stake in the railway company as a strategic investment and is willing to divest it, the last obstacle to the Hungarian state increasing its stake in GYSEV has been removed, reports Világgazdaság.
János Lázár recalled that the Hungarian state was already a majority shareholder in the company – still owned by the Austrian state – but under the terms of the contract concluded by the previous governments,
the Austrian state retained its veto right in the company, despite the fact that while the Hungarian state invested more and more money in the company, and the Austrians failed to meet their capital increase obligations.
Nevertheless, Hungarian influence in the company did not increase.
According to the politician, the current Hungarian government did not accept that Hungarians were in a minority in their own company. That is why Prime Minister Viktor Orbán has entrusted János Lázár with the task of putting things in order.
The minister indicated that the company would remain a joint venture, with the Austrian state remaining a minority shareholder, which János Lázár personally welcomed, saying he believed in all forms of Central European cooperation. At the same time, Hungary will now have the final say in the railway company, since with Strabag’s 6.13 percent stake
the Hungarian state’s stake will increase to 71.7 percent, thus restoring ownership rights.
According to the minister, the transaction is good news for all passengers and employees of Hungarian railways, as the development of GYSEV, which was also achieved with Hungarian taxpayers’ money, will now also make a tangible contribution to the catching-up of MÁV.
Although it is not clear from the entry what the price of Strabag’s share package might be, press reports in December suggested an offer of EUR 10 million.
Via Világgazdaság; Featured image via Wikipedia