Are you sure?

Bayerische Hypo-Vereinsbank increases stake in MOL

Bayerische Hypo-Vereinsbank (BHV) boosted its stake in Hungarian oil and natural gas company MOL by 7 million shares to 17,011,494 shares or 16.28% on December 12, UniCredit Bank Hungary, which served as the custodian for the purchaser, announced.

Austrian energy company OMV announced on December 12 that it had sold 7 million MOL shares to BHV under a repo agreement.

OMV will recall the shares on March 19, 2009.

In September, OMV contracted a similar repo deal with BHV for a 9.26% stake in MOL, to be repurchased on January 29, 2009.

Trade in MOL was suspended shortly after the opening of Thursday trade because it increased 1,050 to 11,400 or 10.14% over Wednesday's close. (MTI – Econews)