BUDAPEST — Hungarian oil and gas group MOL said Monday that Surgutneftegaz, which holds a 20 percent stake in MOL, has sued it to get listed on its share register.
“Surgutneftegaz initiated litigation against the company … to make void the resolution … on the refusal of Surgutneftegaz’s registration into the share register,” MOL said in a statement posted on the Budapest Stock Exchange web site.
The Russian energy giant bought one-fifth of Hungary’s largest company by revenue last year from Austria’s OMV. MOL has said it considers the company a financial investor.
The first hearing will be Dec. 3, the statement said.
MOL shares closed Monday’s trading 0.9 percent lower against a 0.6 percent fall in the wider market. Surgutneftegaz’s stock gained 1.6 percent in Moscow, in line with the wider market.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.