Hungary's Socialist Party's Foundation Has First Refusal To Acquire Ringier’s Népszabadság Share
- 22 Aug 2012 9:00 AM
A Socialist Party foundation with 27% of Népszabadság Zrt. has an option to buy Ringier shares should the company sell its majority stake in the company, former Socialist MP László Kránitz pointed out on the weekend. This means, Kránitz added, that neither his fellow former Socialist MP Sándor Csintalan nor anyone else can buy the Ringier holding without the foundation’s consent.
Csintalan said on Friday that he has contacted Ringier Hungary and told its chief executive Attila Mihók of his intention to buy Népszabadság.
Kránitz is chairman of the board of trustees of the Socialist Party’s Szabad Sajtó Alapítvány, (Free Press Foundation) owner of a 27% stake in Népszabadság Zrt.
The newspaper’s circulation has fallen from 200,000 ten years ago to about 60,000, Népszava reports. Népszabadság closed last year with a loss of Ft 862.9 million.
Source: Hungary Around the Clock
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