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MOL to bid for INA shares

Hungarian oil and gas company MOL has asked permission from Croatia's financial market regulator Hanfa to launch a public bid for shares in Croatian peer INA.

“We are informing the public and INA shareholders that we have received a request from MOL to launch a public bid for INA,” Reuters quoted Hanfa as saying on its website without disclosing any further details.

MOL owns 25% of INA, and the state of Croatia holds 44%, after distributing 14% to war veterans and INA employees and listing 17% in Zagreb and London.

MOL will make a public offer for the 31% not held by the government to give it a majority stake. (MTI – Econews)