ADVERTISEMENT

INA chairman puts question of company strategy to government

Deals

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.

ADVERTISEMENT

MKIK: Local business tax should be maintained Analysis

MKIK: Local business tax should be maintained

Parl't votes to phase out savings coops integration framewor... Parliament

Parl't votes to phase out savings coops integration framewor...

Roche Szolgáltató appoints P&C business partner lead Appointments

Roche Szolgáltató appoints P&C business partner lead

Capital sees urban exodus during pandemic City

Capital sees urban exodus during pandemic

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.