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MOL renews ING option deals for own shares

Hungarian oil group MOL has exercised an American call option for 5.22 million of its own shares in a one-year agreement with ING Bank, and entered a new one-year option deal for the shares, it said.

The deals leave the number of shares held by MOL unchanged at 7.435 million, it said. MOL said it closed the original deal by exercising its American call option with a cash-settlement method.

At the same time it signed a new one-year deal for the same shares, in which ING received a European put option and MOL an American call option. (Reuters)