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MOL to Start Talks with Bidders

Hungarian oil and gas company MOL Rt said after a board meeting yesterday that it had "received a sufficient number of offers" with regard to the sale of some stakes in its gas companies.

MOL has decided to start parallel negotiations with several investors.

According to the Russian press yesterday, Gazprom has teamed up with Ukraine's state-owned Naftogaz Ukrayiny, to bid for a 25%-plus-one-vote stake in MOL's gas delivery arm.

Gaz de France has said it is interested in buying MOL's natural gas assets.

MOL invited bids for unspecified stakes in three of its natural gas operations - storage, transmission and wholesale and trading - which analysts say could fetch as much as Euro 1 billion.

(BBJ 03.ix.04)

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