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INA and MOL said in a statement that at the first stage the two companies would gather all relevant information on possible investment in the Sarajevo-based company.
The chairman of the INA Board of Directors, Tomislav Dragicevic, said that INA's decision to compete in the tender together with MOL, which owns a 25 per cent stake in the Croatian company, was "solely the result of a business assessment".
Energopetrol is in 67 per cent ownership of the state.