Croatia to list 15-17% of Ina in Zagreb, London by end of year

Deals

Croatian will list between 15% and 17% of state oil company Ina Industrija Nafte d.d. on the Zagreb and London bourses by year's end. The exact date, amount and price will be determined later, the government said in a statement after a cabinet meeting in Zagreb. „We are insisting on two principles in this procedure, complete transparency and a desire to include Croatian citizens in the privatization of Ina,” Prime Minister Ivo Sanader said in the statement. Croatia, which started entry talks with the European Union a year ago and hopes to join the bloc by the end of this decade, has been repeatedly told by the International Monetary Fund it should speed up the sale of its assets. The government last month said it would list 20% of state telecom Hrvatski Telekom d.d., which is 51% owned by Deutsche Telekom AG, in Zagreb and on one foreign bourse. Hungary's Mol Nyrt owns a 25% plus 1 share in Ina, which it bought for $505 million in 2003. (Bloomberg)

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