Hungary: Gazprom's Subtle Attempt to Take Over MOL

Austrian energy company OMV entered into negotiations to secure a loan July 2 that would allow it to purchase a controlling stake in Hungarian energy company MOL. Hungary has rejected OMV's interest, calling it a monopolistic overture by a partially state-owned company. The real problem for Hungary, however, is OMV's close relationship with Russian natural gas monopoly Gazprom, which has had a keen eye on acquiring MOL — and Hungary is afraid of the Russian influence OMV could introduce.