Hungary's National Development Ministry and National Asset Management Agency (MNV) jointly announced that the the state has acquired controlling interest in the exchange-listed Hungarian automotive company Rába after a public tender.

The Russian owners of Hungarian airlines Malév will be offered a stake in a Hungarian gas storage facility in exchange for their shares, the Hungarian business daily Napi Gazdasag reported on Friday quoting unnamed sources.

The European Commission’s recently adopted initiative on building out and spreading fast and very fast broadband internet access has been welcomed by the Hungarian government.