Hungary’s energy giant MVM is in talks with the German energy company E.ON over the acquisition of gas trading and storage units in the country. E.ON is the biggest gas supplier in Hungary. According to unofficial sources, business negotiations have advanced to the point where a deal may be signed by the end of 2012. The price of the transaction would be around €800m. Hungarian Prime Minister Viktor Orbán and Johannes Teyssen, president and chief executive of E.ON, already signed a letter of intent.
