MOL CEO: MOL Already Holds INA Management Rights
25 April 2013 - 9:07PM
Dow Jones News
By Margit Feher
BUDAPEST--Hungarian oil and gas company MOL Nyrt. (MOL.BU)
already owns the management rights of Croatian peer INA (INA.ZG) so
the actual size of its ownership stake in INA is of less
significance, MOL Chairman and Chief Executive Zsolt Hernadi said
Thursday.
His comments were made in reaction to earlier press reports that
MOL is in talks with the Croatian government over increasing its
ownership in INA by buying part or all of the government's stake in
the company.
"MOL's role in INA is already defined by the fact that it has
management rights in the firm," Mr. Hernadi said at a press
conference after the company's annual meeting.
"[The issue] whether it buys more or doesn't buy more shares in
the firm, and at what price, is of secondary importance," Mr.
Hernadi added.
MOL owns a 49.1% stake in INA while the Croatian government
controls 44.84%.
Write to Margit Feher at margit.feher@dowjones.com