Former Croatian PM’s prison sentence annulled; good news for MOL

Issues

Battered by fuel prices, which resumed falling this week, MOL was supported by newspaper reports in Zagreb that Croatiaʼs constitutional court annulled the prison sentence of former prime minister Ivo Sanader, with order to repeat procedure in courtroom, Hungarian news agency MTI reported on Friday.

Sanader was sentenced to ten years in prison in November, 2012, commuted to eight and a half years by Croatiaʼs supreme court in June, 2014, on several charges that included accepting a bribe from MOL for a 2009 shareholders agreement giving MOL a 49.08% stake in Croatian oil and gas company INA, complete with management rights.

The state of Croatia owns 44.84% of INA, and its government has tried to regain some rights in the company since 2011, partly based on the assumption that these had been fraudulently acquired by MOL, an allegation MOL has denied.

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