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Croatian gov't keeps options open with MOL

Croatia's economy ministry on Friday said the government would keep open the option to change its contractual relationship with Hungarian oil and gas company MOL with regard to its stake in Croatian peer INA “to protect strategic interests in the energy sector”.

“The Croatian government doest not waive its rights to make different legal and institutional arrangements with regard to the status of the contracted parties,” the economy ministry said on its website on Friday.

MOL said on December 2 that it decided to make a purchase offer for shares of INA in free float. The offer price was HRK 2,800 per share, the same as the price in a public purchase offer made in the autumn of 2008.

MOL holds a 47.2% stake in INA and the Croatian state owns 44.8%, thus acquiring the remaining shares would give MOL a controlling stake in INA:

The Croatian economy ministry on Friday said that the government would accept informal agreements with investors whose aims coincided with those of the government.

Croatia's state pension fund wants to offer more for INA's free float than MOL, the Austrian Press Agency reported on Friday, citing a report in Croatian paper Vecernji list.

Hungary's financial market watchdog HANFA decided on December 3 to suspend trade in INA shares. (MTI – Econews)