Bloomberg News

Mol Oil Says Surgut Role Not Friendly in Company, MTI Reports

April 01, 2009

OAO Surgutneftegaz’s acquisition of a 21.2 percent stake in Hungary’s Mol Nyrt. (MOL) “can’t be considered friendly,” MTI reported, citing Mol Chief Executive Officer Zsolt Hernadi.

Surgut, which said on March 30 that it acquired the stake from Austria’s OMV AG (OMV), may want to gain control of Mol, Hernadi told parliament’s foreign affairs committee today, citing past Russian acquisitions in the energy industry, MTI news wire said.

OMV abandoned a 2.8 trillion-forint ($12 billion) hostile takeover bid for Mol, Hungary’s largest oil refiner, last year.

To contact the reporter on this story: Zoltan Simon in Budapest at zsimon@bloomberg.net

To contact the editor responsible for this story: Chris Kirkham at ckirkham@bloomberg.net


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