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Surgutneftegas acquisition of MOL stake raises questions

The acquisition of a 21.2% stake in Hungarian oil and gas company MOL by Russian peer Surgutneftegas raises questions of energy dependence and energy supply that affect all of the countries in which MOL operates: Hungary, Slovakia and Croatia, Chairman-CEO Zsolt Hernádi told Parliament's Foreign Affairs Committee.

Austria's OMV on Monday said it sold its 21.2% stake in MOL to Surgutneftegas for €1.4 billion. The purchase price reflected nearly a hundred percent premium over the share's price at the time.

Hernádi said the transaction was surprising from many points of view, for example the high purchase price paid by Surgutneftegas.

Finance Ministry state secretary László Keller said the government considered it important to guard the independence of companies with strategic national importance. The government did not communicate with the Austrian or the Russian sides before the transaction, he stressed. (MTI – Econews)