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Sovereign Wealth Funds Briefing - Categorized | Financials, Investment

Norway state oil fund may contemplate selling stake in Hungary’s MOL

Posted on 17 October 2013

Norway’s state oil fund may consider selling its cc. 1.6% stake in Hungarian oil and gas group MOL, as its Code of Ethics does not allow it to invest in companies under suspicion of corruption, Hungarian business daily Napi Gazdaság reported on Wednesday.
Shareholders are not exactly happy about the news and the share price sunk by 6% in the morning, although it has recouped some of its losses later in the day. MOL’s spokesman said the report was baseless and the company had no information that the Norwegian shareholder would contemplate a possible sale of its MOL stake………………………………………..Full Article: Source


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