Hungary's capital market watchdog PSZAF has launched a probe into Russian firm OAO Surgutneftegaz (SNGS.RS) purchase of a stake in Hungarian oil and gas company MOL Nyrt. (MOL.BU), PSZAF Spokesman Istvan Binder told Dow Jones Newswires Friday.
Surgutneftegaz bought a 21.2% stake in MOL Monday from Austrian oil and gas company OMV AG (OMV.VI) for EUR1.4 billion.
"We've launched the investigation at MOL's request. We are investigating whether the transaction was carried out in line with the appropriate capital market norms and regulations by the parties involved," Binder said.
Binder declined to provide further details since the probe is under way. He only added that the PSZAF will close the investigation as soon as possible and issue a public decree on its findings when the probe is closed.
MOL has regarded Surgutneftegaz's move as unfriendly. Both the Hungarian government and opposition expressed its concerns over the transaction and pledged support of MOL keeping its independence.