Hungary to acquire controlling stake in GySEV
The state of Hungary could acquire Austrian construction company Strabag's stake in GySEV, giving it a majority holding in the regional railway company, Construction and Transportation Minister Janos Lazar said in a post on social media on Thursday.
Lazar called out Hungary’s earlier Socialist governments for signing contracts with the Austrians that had put the Hungarian side at an “unwarranted disadvantage”. While the state of Hungary ploughed even more money into GySEV, the Austrians failed to keep up with their part of the capital raises, while keeping their veto right, he added.
He noted that GySEV was owned by the states of Austria and Hungary, and Strabag. Austria’s competition authority has now cleared Hungary’s acquisition of Strabag’s stake, he added.
