• Home
• Channel: Current Affairs
• Orbán’s Gov't is Trying Buy Strabag’s Stake in Hungarian-Austrian Railway Company

Orbán’s Gov't is Trying Buy Strabag’s Stake in Hungarian-Austrian Railway Company

• 15 Dec 2023 7:54 AM
• Hungary Around the Clock

The state has filed an official bid to purchase the 6% stake held by Austrian construction company Strabag in the Hungarian-Austrian railway company Gysev, Telex reports.

The Hungarian state has slightly less than a 66% stake in Gysev, the Austrian state slightly more than 28% and Strabag the rest, which is around 6%.

If Hungary acquires the apparently small share of only 6% with what is said to be a favourable offer to Strabag, it will be in a much more advantageous position, as it will have more than a two-thirds majority, leaving the Austrian owners with little say in the running of the company.

According to Telex, relations between the Hungarian and Austrian owners are bad. It has been known for some time that Construction and Transport Minister János Lázár felt that the leaders of Gysev were favouring the minority Austrian owner rather than the majority Hungarian one, and he unilaterally dismissed Hana Dellermann, head of the company’s Austrian operations.

The Austrian side vehemently complained about this, Telex adds.

It observes that the government has now chosen not to seek a compromise but to fight the Austrians.

• How does this content make you feel?
• I love it
• I like it
• I dislike it

• Strabag Raiway Government

XpatLoop Media Partner

Hungary Around the Clock

Since 1995 Hungary Around the Clock has proven to be one of the most comprehensive sources of daily English-language news about Hungary. It covers ongoing domestic politics and foreign relations, as well as business and economic matters. For a free trial of HATC visit www.hatc.hu and click on 'Free Trial Subscription’.

Explore More Reports

Hungarian Opinion: New Poll Shows Slump in Support for Fidesz

• 26 Apr 2024 1:35 PM

An independent political observer has reservations about the latest opinion poll which suggests that Fidesz lost 10 percentage points from its voting base, while a pro-government pundit calls these data manipulated.



Historic First: Natural Gas Deliveries Start from Azerbaijan to Hungary

• 26 Apr 2024 7:43 AM

For the first time in history, natural gas deliveries have started from Azerbaijan to Hungary, which greatly contributes to Hungary’s diversification efforts in energy supply, the minister of foreign affairs and trade said in Baku.



Dobrev: Social Democrat-Green Coalition Knows How to Replace “Orbán’s Regime” in Hungary

• 25 Apr 2024 7:19 AM

The Social Democrat-Green coalition is a fulcrum of the opposition that is present throughout the country, knows how to replace “Viktor Orbán’s regime” and “also knows what do afterwards”, Klára Dobrev, the leader of the Democratic Coalition-Socialists-Párbeszéd-Greens European Parliament list, said at a campaign event in Eger, in northern Hungary.



Hungary Signs Military And Defence Industry Cooperation Deal with UAE

• 23 Apr 2024 12:02 PM

Hungary and the United Arab Emirates have signed a military and defence industry cooperation agreement, the defence ministry said in a statement.