MOL said earlier that it plans to spin off its upstream, downstream and retail businesses because of changes to the group's environment, regulatory impacts, business size and complexity.

The three businesses will remain wholly-owned subsidiaries of MOL which will also exercise strategic management, business line oversight, financing, investment decision optimisation, and control over the units.

Voting and dividend rights of shareholders will not change and there will be no transfer of value away from shareholders, it added.

MTI Stock Photo - for illustrative purposes only

Source: MTI – Hungary’s national news agency since 1881. While MTI articles are usually factual, some may contain political bias, and readers should be aware that such content does not reflect the position of XpatLoop, which is neutral and independent.

Since the goal of XpatLoop is to keep readers well briefed, right across the spectrum of opinions, MTI items are shared to ensure readers are aware of all narratives within the local media.

XpatLoop believes in empowering readers to form their own views through complete and comprehensive coverage. To facilitate this XpatLoop has a balanced range of news partners, as you can see when you surf around XpatLoop.com
 

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