By Veronika Gulyas
BUDAPEST--The Budapest Municipal Court declined the request of
the Croatian State Prosecutor's Office for the extradition of
Hungarian oil and gas firm MOL Nyrt. (MOL.BU) Chairman and Chief
Executive Officer Zsolt Hernadi, MOL said in a stock exchange
filing Monday.
The Croatian authority issued a European arrest warrant against
Mr. Hernadi last week in relation to the bribery case of Ivo
Sanader, the former prime minister of Croatia. MOL holds a
controlling 49.1% stake in Croatian oil firm INA d.d. (INA.ZG).
Croatia has a 44.8% stake in INA.
"The Budapest court, in a final and non-appealable decision,
declined to fulfil the request because in the criminal case forming
the basis of the request namely, bribery in international
relations, a criminal investigation had already been conducted in
Hungary with the conclusion that Mr. Hernadi didn't commit the
crime he has been charged with by the Croatian Prosecutor," the
filing said.
Hungary's Prime Minister Viktor Orban, in a radio interview
Friday, said MOL should sell its stake in INA to Croatia, saying
this business row isn't worth as much as friendship between the two
countries. The Hungarian government has 25% stake in MOL.
Analysts have repeatedly said MOL shouldn't sell INA because its
investments haven't returned yet. Concorde analyst Attila Vago said
the fact that Hungary's government is having a say in MOL's
strategic issues was "very worrisome, dispiriting and
preposterous."
MOL closed down 0.7% or HUF100 at HUF15,350.
Write to Veronika Gulyas at veronika.gulyas@wsj.com