Hungarian oil and gas company MOL Nyrt. declined to comment
Wednesday on market speculation and media reports that the company is
eyeing U.K-listed Premier Oil as a potential acquisition
target.
MOL Communications Director Ferencz I. Szabolcs told Dow Jones Newswires that the company had no comment on the issue.
MOL shares plunged 6.3% Tuesday against an overall sliding
Hungarian market, and some analysts noted that the takeover speculation
may have put additional pressure on the stock.
At around 0850 GMT Wednesday MOL shares were up HUF200, or 0.9%, at HUF23,500.
Oil majors Royal Dutch Shell PLC and Eni SpA were also rumored in October to be looking to bid for Premier Oil.
Hungarian analysts said the U.K. company would likely be too
expensive for MOL, even though MOL recently signed an agreement for a
EUR2.1 billion syndicated loan, saying it was going to use it for
acquisitions.