"With regard to rumours of MOL selling its stake in INA, our company's policy is not to comment on market hearsay or speculation. MOL's financial position remains one of the strongest among the regional oil and gas companies, so we have no reason to sell any stakes for financial reasons," MOL Group Vice-President Ferencz Szabolcs said in a statement.
The statement came following media speculation that the Hungarian company might sell its stake in INA (25 per cent plus one share) to gain the capital needed to fend off a takeover bid from Austria's OMV.