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Government Trying To Negotiate Better Position For INA With MOL

The Croatian government, which has a 44 percent stake in Croatian oil giants INA, is seeking to change the shareholders’ agreement it has with Hungarian energy group MOL becasue they are not happy with the current terms.

The government have been trying to negotiate with the Hungarians for the best part of this year and Finance Minister Slavko Linic says it is not easy. “Negotiations are already under way and are not easy,” Linic told Croatian Radio on Wednesday.

“Regardless of this verdict, the government is not pleased with the shareholders’ agreement and I believe it will be amended to mutual satisfaction,” said Linic when questioned if yesterday’s jailing of former PM Ivo Sanader for corruption would affect negotiations.

Sanader was jailed yesterday for taking a 10 million euro bribe from MOL to secure them a dominant position in INA.

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