Hungary's MOL bid for Montenegro oil firm Bonus not seen as 'significant' |
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Thu, 12 Apr 2007 09:57
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BUDAPEST (Thomson Financial) - Press reports that oil company MOL Nyrt is planning to a buy a stake in state-owned Montengro oil sector company Bonus should not be of significant impact to the Hungarian oil group, dealers said.'Bonus seems to be a small retail company, it is not a big story that will seriously change the company's standing,' said Balint Torok at Buda Cash.According to a report in Croatia's Republika newspaper, other parties interested in Bonus included Croatia's INA DD, Russia's Lukoil OAO, Hellenic Petrol SA, Slovenia's Petrol, and Canada's Bankers Petroleum Ltd, the paper said.Montenegro issued a tender for a 50 pct stake in a joint company to operate Bonus on April 6.The company would carry out infrastructure projects, manage company buy-ups, increase production and operate Montenegro's network of crude storage units and petrol stations.However, brokers at Erste Bank said that although the company is small, the deal would be good for MOL because it has no interests in Montenegro.At 10:11am CET MOL's shares were trading up 0.93 pct at 21,675 forints compared to a fall of 0.16 pct in the BUX index.edward.krudy@thomson.comek1/rfwCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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