Bloomberg News

Hungary Summons Russian Ambassador About Mol Stake, MTI Says

April 07, 2009

Hungary’s Foreign Ministry summoned the Russian ambassador to discuss OAO Surgutneftegaz’s acquisition of a stake in Mol Nyrt. (MOL), state news agency MTI said.

Hungarian officials complained at the meeting about a failure by Russia to notify the Hungarian government before the transaction, MTI said, citing a statement by Lajos Szelestey, the country’s foreign affairs spokesman.

The ministry officials reiterated that Hungary will do everything possible to defend Mol’s independence and it will not change this view, MTI cited Szelestey as saying.

Surgut’s acquisition last week of Vienna-based OMV AG (OMV)’s 21.2 percent stake in Mol is seen as “unfriendly,” Mol Chief Executive Officer Zsolt Hernadi has said. OMV last year abandoned a 2.8 trillion-forint ($12 billion) hostile takeover.

To contact the reporter on this story: Agnes Lovasz in London at alovasz@bloomberg.net

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


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