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FinMin dismisses report Hungarian, Russian governments involved in bid for MOL shares

Finance Ministry state secretary Tamás Katona called a report the governments of Hungary and Russia are involved in a bid by Hungarian oil and gas company MOL to buy MOL shares from Russian peer Surgutneftegas “implausible”.

Russian business daily Vedomosti reported on Thursday that MOL had made an offer to buy MOL shares from Surgutneftegas.

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.

“There is no MOL delegation in Moscow in talks with Surgutneftegas,” a MOL spokesman told MTI on Thursday. The spokesman noted that MOL CEO Zsolt Hernádi had said in an interview with Reuters a week earlier that he saw little chance for a strategic cooperation between the two companies.

Also commenting on the matter, government spokesman Domokos Szolláar said the government had signaled several times to its Russian partner that it supported MOL's strategy, of which a fundamental part is maintaining the company's independence. (MTI-Econews)