A government decree on the renationalisation of airline Malev was published on Tuesday.
The decree outlines the terms of an agreement reached late Friday between Malev’s owners and the Finance Ministry under which the Hungarian state will take over 95pc of the airline. The transaction will take place by reducing Malev’s capital to HUF 4m, then raising it by HUF 26.82bn with the issue of new shares. Hungary’s National Asset Management Company (MNV) will subscribe HUF 25.36bn of the shares.
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