Croatia deflects rumors of OMV interest in INA stake

Deals

A spokesman for the Croatian government said he knows nothing of OMV's intentions, about reports the Austrian oil and gas company wants to acquire a stake in Croatian peer INA, in which Hungarian oil and gas company MOL owns 25%.

Zlatko Mehun told newswire MTI that the government is interested in strengthening the strategic partnership between MOL and INA, and one option would be a share swap, as mentioned by Croatian Prime Minister Ivo Sanader earlier in June.

MOL is in talks with the Croatian government on acquiring a further 14%, Reuters reported earlier. The Croatian government holds 44.8% of INA shares, and is set to privatize more of the company's shares.

OMV is interested in acquiring a 14%-19% stake in INA, Austrian business daily Wirtschaftsblatt reported early in May. Industry insiders say the company is willing to pay cash for the stake.

OMV and MOL have been on no friendly terms since last summer, when OMV attempted a hostile takeover of MOL. (MTI – Econews)

ADVERTISEMENT

Varga puts 2021 GDP growth at 7-7.5% Analysis

Varga puts 2021 GDP growth at 7-7.5%

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New managing director at the helm of Wolt Hungary Appointments

New managing director at the helm of Wolt Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.