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Hungary's MVM Poised to Buy Slovak Power Plant, Paper Reports
Hungary's MVM Poised to Buy Slovak Power Plant, Paper Reports
Budapest, March 20 (Bloomberg) -- MVM Rt., Hungary's monopoly
electricity supplier, is poised to buy a gas-turbine power plant in
Bratislava, the Slovak capital, Hungarian business daily Napi
Gazdasag reported, citing Istvan Takacs, chief executive officer of
the company. The company is seeking to expand into countries that
border Hungary. MVM's profit rose more than fivefold to 10.8 billion
forint ($41 million) compared with 1.9 billion forint in 1998 because
of a rise in income from the Paks nuclear power plant, the newspaper
said.
Mol Rt., Hungary's oil and gas monopoly, also is aiming to expand in
the region and bid for a stake in Slovak refiner Slovnaft AS.
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