MOL acquires only 0.01 per cent of additional Ina shares

The Hungarian MOL has managed to acquire only 10,082 or 0.01 per cent of Croatian oil company Ina's shares from small shareholders during its public offer last month.MOL currently owns 47 per cent of Ina's shares and had wanted to become a majority shareholder, offering to buy additional shares from Ina's small shareholders for 379 Euros a piece.Part of Ina's shares, however, was bought by Croatia's pensions funds and one American investor, preventing MOL from acquiring a sufficient percentage for majority ownership.The pension funds acquired close to four per cent, while the American investor bought little less than one per cent of the eight that had been in the ownership of the small shareholders.

Source: Croatian Times Online News