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The Hungarian government has bought a 21.2% stake in MOL Nyrt Oil...from Russian concern Surgutneftegaz...for E1.88 billion/$2.65 billion usd.
The funds will come from IMF loans obtained in 2008.
An analyst quoted in the WSJ calls the purchase by the cash strapped nation..."bizarre" ...since Mol Nyrt gets all its oil from Russia.
PM Viktor Orban (above) apparently feared a "creeping takeover" of the country's largest refiner by a Russian oil producer.
