Ministry: Budapest airport repurchase in final phase

The repurchase of Budapest's Liszt Ferenc International Airport is progressing in line with schedule and the transaction is in its final phase, the economy ministry said on Wednesday in response to press reports.

The ministry said in a statement that a report on the airport’s ongoing repurchase transaction published by news portal included several “untrue and intentionally misleading” statements.

“Despite all the fake reports, the government continues to work on recovering the Gyurcsany government’s greatest sin, which was to squander the airport, an outstanding strategic asset,” the ministry added.

The repurchase of the airport has been by far the largest transaction since post-communist transformation and consequently a complicated and complex task, it said. An agreement of this scale often takes years and “compared to this, the progress of the current transaction is expressly speedy”, it added.

“Reaching an agreement with the lender consortium during the talks is at least as important as the deal with the seller,” the statement said. The talks have been progressing simultaneously, and the international investors and creditors have given positive feedback on the government’s efforts to reach an agreement in a fast and professional manner, it added.

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