Fidesz Proposes To Enlarge Strategic Umbrella Over Companies

"Hungary's main opposition party Fidesz would like to see the scope of a recently approved law on the protection of strategically vital companies, popularly called “lex MOL", to be extended on other state companies, as well.


Fidesz MP János Fónagy told local daily Magyar Nemzet on Friday that his party would submit a draft law next week that would classify Magyar Posta (Hungarian Post),as well as rail, road and air traffic transport firms as strategic companies, thus shielding them from foreign hostile takeovers.

Fidesz President and former PM Viktor Orbán said in a speech in Parliament before the final vote on lex MOL that the new regulation was an asset protecting measure. He announced already then that Fidesz would propose a legislation to include more companies under the umbrella of strategic importance."

Source: Portfolio Online Financial Journal
15.10.2007