Mol, Hungary’s leading oil and gas company, is looking to resolve ownership issues at home and abroad. On the domestic front Mol is seeking to come to terms with Russian oil company Surgutneftegaz, which holds a 21.2% stake in the firm that it acquired for $2 billion in March 2009 from Austria’s OMV after OMV failed in its attempt to acquire Mol in a hostile takeover. The stake is now worth about $2.3 billion. For its part Mol has always regarded Surgutneftegaz’s holding in a negative light and believed that the Russian oil company would seek to wrest control with the backing of the Russian government.
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