INA chairman puts question of company strategy to government
Croatia must decide whether it wants oil and gas company INA to operate based on market principles or be a state company, INA chairman Zoltán Áldott said in an interview with Croatian weekly Globus today, Hungarian news agency MTI reported.
“If they choose the market model, then we have to talk about goals and strategy. If they choose the state model, then thereʼs nothing of interest here for a private investor. In the latter case, it would be most logical for the state to take over full ownership of the company,” Áldott told the paper.
Hungarian oil and gas company MOL owns 49.1% of INAʼs shares and has management rights in the company. The state of Croatia holds 44.8%. The sides have long been at odds over strategy for the company and are in arbitration at present.
Aldott noted that representatives of MOL and the Croatian government had not negotiated for almost two years. Now the wait is on for the countryʼs new government to put together a new negotiating delegation, he added.
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