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Gov't says no imminent purchase of MOL stake from Surgutneftegas

The Hungarian government said Thursday there is no imminent purchase of Russian oil and gas company Surgutneftegas's 21.1% stake in Hungarian peer MOL, Dow Jones reported.

“Both governments signaled that they handle the issue as a priority and the Russian party suggested that talks on the matter should continue at the Hungarian-Russian Intergovernmental Economic Cooperation Committee's upcoming meeting,” the National Development Ministry said without revealing when the meeting will be held, Dow Jones said.

Surgutneftegas acquired its stake in MOL from Austrian peer OMV for €1.4 billion in March 2009. MOL's management called the deal unfriendly and Hungary's president expressed concern about the transaction.

On Wednesday, MOL shares gained 3.14% to HUF 23,000 on turnover of HUF 7.6 billion or about 37% of the HUF 20.4 billion session total, a much higher proportion than usual. The share price rose on speculation the Hungarian state could buy Surgutneftegas's stake in MOL for HUF 27,000 per share. (MTI – Econews)