MOL wants to sell Croatia's INA

(Photo: ina.hr)

Hungary's MOL will try only one more time to encourage the Croatian government to cooperate when it comes to INA. If this fails to give result, MOL intends to sell its stake in this oil company, the media in Zagreb reported.

As a highly positioned MOL official told the Austrian news agency APA, if the Croatian government continues to prevent decisions on, for example, large investments, MOL will put its 49-percent stake in the INA company up for sale.

He added that the takeover of majority stake in that oil company was also possible.

Croatia currently holds a 44-percent stake in INA. If the country is ready for a compromise, MOL will have to sell its stake, even to Russians, whose oil companies are not MOL's main rivals in the oil market of southeast Europe, APA writes.

Although MOL is not a majority owner of INA, the Hungarian company controls the Croatian company in line with an agreement signed in 2009.