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’Russian group buys 21% of Mol
OMV, the Austrian energy and chemicals group, on Monday ended its two-year struggle to buy rival Mol of Hungary by selling its 21.2% stake to a Russian oil group loyal to the Kremlin. The €1.4bn ($1.8bn) sale to Surgutneftegaz – at more than double the market value – raised concern in Hungary,
Russia invades the Hungarian energy sector
By Haig Simonian in Zurich
A Russian oil company loyal to the Kremlin on Monday bought Austrian energy group OMV’s stake in MOL, the Hungarian energy group, for twice its market value.
The deal involving Surgutneftegas is likely to sound alarm bells in Hungary,
Centaurus adds to Mol bid clamour
Another key shareholder in Mol, the Hungarian oil and gas company, have come out publicly in favour of the bid approach from OMV of Austria, adding to the pressure on Mol’s management to enter talks.