ASSESSMENTS
Hungary, Russia: Moscow Scoops up a European Airline
Jan 29, 2009 | 20:47 GMT
ATTILA KISBENEDEK/AFP/Getty Images
Summary
Russian state-owned bank Vneshekonombank has taken over Hungarian airline Malev, according to Russian media reports. The purchase fits nicely with Moscow's bid to buy European airline infrastructure and assets at a cut rate. And while Hungary and the rest of the European Union will not let the deal pass without protest, the current economic climate will hamper attempts to stop the takeover.
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