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MOL prepared to fight over higher share price

Hungarian oil company MOL is prepared to go to court to fight the price set for shares it is legally obliged to buy, as the majority shareholder in the Slovnaft oil company.

MOL believes that the price of shares was manipulated in the period from March 20, when its increased stake was announced.

The price is set based on the higher of either the average share price over six months before the purchase or half of the net assets of the company divided per share. If the period after March 20 is included, the price rises from Sk1,100 (26.76 euro) to Sk1,380 (33.58 euro) per share.

Compiled by Conrad Toft from press reports.
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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