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. Last Updated: 07/27/2016

VEB May Sell Malev Stake

Vneshekonombank is in talks on selling its stake in airline Malev back to Hungary’s government and hopes to reach an agreement by year-end, VEB chief Vladimir Dmitriyev said Tuesday.

State-run VEB acquired 49 percent of Malev in March from investor Boris Abramovich in exchange for debt.

“We are in talks with the Hungarian leadership,” Dmitriyev said. “We want to speed them up,” he said. “We expect to reach a mutually acceptable variant by the end of the year.”

(Bloomberg)