English ignore Hanfa’s suspension – MOL was able to buy Ina shares in London

Hungarian oil company MOL did not have to wait for the market regulator Hanfa to lift the trading suspension from Ina shares at the Zagreb Stock Exchange to acquire a majority interest – it could have bought them at the London Stock Exchange, as the GDR trading was not been suspended.

LSE spokesperson Jonny Blostone says the decision on suspending GDRs is up to the British regulator. Experts agree the problem is in the fact Croatia is not EU member. Technically speaking, MOL could have bought GDRs in London and then converted them into shares in Croatia, after the Hanfa lifted the suspension. Vjesnik’s source from the ZSE says MOL’s offer was completely clear and legitimate, while Government behaves “strangely”. The source claims Croatia lost Ina a long time ago. Pension funds and Adris deny any talks with the Government regarding Ina defense. The Hanfa says the trading suspension will be lifted on Tuesday.

News source: Limun.hr link: article