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Minister confirms talks to buy Surgutneftegas stake

The government is in talks with Surgutneftegas on the Russian oil and gas company's 21.2% stake in Hungarian peer MOL, National Development Minister Tamás Fellegi told MTI, confirming press reports.

Fellegi declined to reveal any further about the talks.

Surgutneftegas acquired a 21.1% 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 Friday, business daily Napi Gazdaság reported Surgutneftegas offered to sell Hungary's previous government a 21.2% stake in oil and gas company MOL for €1.5 billion, and it is in talks with the country's new government on selling the stake for €1.6 billion, citing an unnamed source. The government would finance the purchase through issuing additional government bonds, the unidentified source told the daily. (MTI-ECONEWS)