MOL, Croatian government resume talks on INA
Representatives of Hungarian oil-and-gas company MOL and the Croatian government resumed negotiations over Croatia-based INA in Zagreb on Friday, Croatian news agency HINA reported. HINA said the talks were expected to focus on management rights in INA, as announced earlier by Croatian Economy Minister Ivan Vrdoljak, who heads Croatia’s team of negotiators.
Representatives of Hungarian oil-and-gas company MOL and the Croatian government resumed negotiations over Croatia-based INA in Zagreb on Friday, Croatian news agency HINA reported.
HINA said the talks were expected to focus on management rights in INA, as announced earlier by Croatian Economy Minister Ivan Vrdoljak, who heads Croatia’s team of negotiators.
The Croatian government postponed talks with MOL slated for late October after MOL replaced its chief negotiator, Sandor Csányi, and changed its position.
At the talks on Friday, MOL’s negotiating team is being headed by MOL executives József Molnár and Oszkár Vilagi with INA CEO Zoltán Áldott.
The sides last held talks in September.
MOL owns a little under 50% of INA’s shares. The Croatian state is the other big stakeholder. The two shareholders have often been at odds over the way the company is managed, and tensions rose early in October, after Croatian police issued an arrest warrant for MOL chairman-CEO Zsolt Hernádi. He is suspected of bribing former Croatian prime minister Ivo Sanader to give MOL management rights in INA.
Hungary’s government responded to the issue of the warrant saying the Croatian government intended to use “unbusinesslike tools” to “pressure” MOL into parting with its stake in INA without making a buyout offer.
Prime Minister Viktor Orbán said later that Hungary’s “extraordinary” longstanding relationship with Croatia was far dearer than MOL’s stake in INA.
ADVERTISEMENT
MBH Bank Closes Acquisition of Duna Takarék Bank
Orbán Augurs Economic Rebound From Q3
AutoWallis Green Investment Project Value Reaches HUF 3 bln
Budapest Muni Council Clears Rác Baths Renovation
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.
