A decision in principle aside, MOL’s hasn’t taken concrete steps towards a sale yet. Our sources say that on Friday, Nov. 8, MOL proposed two models.

Under the first one INA could once again become a company that operates under state supervision and factors in political considerations, just like it was the case before MOL entered the scene.

Under the second one INA could forge ahead alongside market considerations and give preference to profit generation.

If Scenario One takes shape, MOL could benefit from its investment by selling its stake of over 47 percent. If Scenario Two is implemented, INA would help MOL to keep it profitable.

The way our sources see it, both scenarios would be beneficial for MOL but for now MOL would prefer reaching a mutually advantageous agreement.

On Friday the Croatians didn’t tell their mind on the two options. The purpose of the Zagreb government is apparently to gain a stronger influence on INA.

Croatia doesn’t seem to have the funds to buy MOL’s stake. That was borne out by a statement by Croatian Premier Zoran Milanovic on Saturday: “The Croatian state has a preemptive right but that is theoretical only. What we are talking about is thousands of millions of euros.”

Source: Magyar Nemzet

Translated by Budapest Telegraph