Mol Nyrt. fell to a two-year low after Hungary’s largest refiner warned it may sell its INA Industrija Nafte d.d. unit as talks with the Croatian government over management rights in the company stalled.
A Hungarian court rejected a Croatian arrest warrant against Mol Nyrt. Chairman Zsolt Hernadi that was issued after he failed to testify in a corruption probe of how Mol gained control of its Croatian unit.
Hungarian Prime Minister Viktor Orban’s government said it would fight a Croatian arrest warrant against Mol Nyrt. Chief Executive Officer Zsolt Hernadi and told the company to consider selling its Zagreb-based unit.
Mol Nyrt. dropped to the lowest level in two years after Napi Gazdasag reported Norway’s sovereign wealth fund may review investments in the Hungarian oil refiner embroiled in a corruption probe in Croatia.