LJUBLJANA (Slovenia), July 18 (SeeNews) - The share price of Slovenian fuel trader Petrol rose by 6.95% on Wednesday following reports by local dailies that Hungarian oil group MOL is interested in buying a stake in the company.
Slovenian newspapers reported on Wednesday that MOL is interested in entering the ownership structure of blue chip Petrol.
"This [the reports] drove Petrol's share to new record highs today," Marko Jovic, an analyst with Abanka Vipa, told SeeNews. Petrol's shares closed at 910 euro ($1,254) on Wednesday, up 6.95% from its Tuesday close.
On Wednesday, Petrol said it had not received any official notification from MOL regarding any kind of integration or takeover proposals. An e-mail sent by SeeNews to MOL went unanswered.
Petrol has reported a 44% annual rise in its group net profit for the first quarter of 2007 to 9.8 million euro. At the end of March, Petrol operated 364 filling stations; 305 in Slovenia, 36 in Bosnia and Herzegovina, 21 in Croatia and two in Serbia.
($ = 0.73 euro)
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