14 June 2010 17:45 [Source: ICIS news]
PRAGUE (ICIS news)--Hungary's government is to start talks with Russia's Surgutneftegaz in an attempt to persuade the Russian company to give up its 21.2% stake in Hungarian oil, gas and petrochemical group MOL, the Hungarian Ministry for National Development and the Economy said on Monday.
The new Hungarian government was of the opinion that the stake would be "better off in Hungarian hands" rather than in those of an investor that both ministers and MOL saw as unwelcome, the ministry said.
However, the ministry declined to say whether the government believed it should be the state or another Hungarian entity that should acquire the stake.
MOL has refused to consider any cooperation with Surgutneftegaz since in 2009 it acquired the shareholding from Austria's OMV without giving any advance notification to MOL or the Hungarian government.
Please read Barbara Ortner’s Chemicals Confidential blog
To discuss issues facing the chemical industry go to ICIS connect
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections