Are you sure?

MVM not in talks on purchase of Surgutneftegas's MOL stake

The state-owned Hungarian electricity works MVM is not in talks on the purchase of a 21.2% stake in Hungarian oil and gas company MOL held by Russia's Surgutneftegas, MVM communications director György Felkai said when asked by MTI.

The question is not on MVM's agenda, Felkai said.

Daily Népszabdság reported on Monday that MVM could buy the MOL stake, without citing any sources.

The National Development Ministry did not comment on the matter when asked by Népszabdság and contacts at MVM referred the paper to the National Development Ministry.

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.

National Development Minister Tamás Fellegi recently denied reports that the Hungarian government was in talks with Surgutneftegas on buying its stake in MOL, but he did say it would be advantageous for MOL and make the market more predictable if the state were to acquire a stake in the company. (MTI – Econews)