City Of Budapest Picks MVM To Buy Its Elmu Stake

City Of Budapest Picks MVM To Buy Its Elmu Stake
Παρ, 11 Ιανουαρίου 2008 - 02:46
The city of Budapest picked state-owned Hungarian electricity wholesaler MVM Zrt. to buy its 10.5% stake in power distributor Elmu Zrt. (ELMU.BU), fellow bidder, German power giant RWE AG's (RWE.XE) spokesman Wolfgang Schley told Hungarian business daily Vilaggazdasag.
The city of Budapest picked state-owned Hungarian electricity wholesaler MVM Zrt. to buy its 10.5% stake in power distributor Elmu Zrt. (ELMU.BU), fellow bidder, German power giant RWE AG's (RWE.XE) spokesman Wolfgang Schley told Hungarian business daily Vilaggazdasag.

RWE remains the majority holder in Elmu, with a 55.3% stake, and with German utility firm EnBW Energie Baden-Wuerttemberg AG (EBK.XE) holding a further 27.3%.

Schley added that speculations that RWE is mulling delisting Elmu shares from the Budapest bourse are unfounded just as speculation about RWE delisting its other Hungarian power distributor, Emasz Nyrt.'s (EMASZ.BU), shares, he said.

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