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)

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