Croatia seen putting pressure on INA, set to recall MOL-friendly members - paper

http://www.portfolio.hu/en/cikkek.tdp?k=1&i=18961

November 20, 2009, 10:34 am

Croatia’s government is recall two members from INA’s Supervisory board that are considered supporters of Hungary’s MOL in the national oil company, Croatian press reported.

The Croatian government is to recall Damir Polancec and Vesna Orlandini from INA’s Supervisory Board. Analysts at Cashline claim both may be considered to be friendly with MOL that holds 47.15% of the firm’s capital.

According to Croatian press reports, the recalled Supervisory Board members are to be replaced by Finance Minister Ivan Suker and Bozidar Pankretic, Minister of Agriculture.

Meanwhile, the cabinet rebutted earlier reports that Russia’s Surgutneftegaz has informed the government about its intention to swap its stake in Hungary’s MOL (21.2%) for MOL’s holding in INA.