Hungary/MOL Officially Pins Russia/Surgut

A pin, or fall, is a victory condition in various forms of wrestling that is met by holding an opponent’s shoulders or scapulae (shoulder blades) on the wrestling mat for a prescribed period of time. (Wikipedia)

In a move that the sporty Putin must appreciate, Hungary and MOL, have been judged to have pinned the likes of the (rumored) Kremlin backed Surgutneftegaz. The judges can be seen to be the international financial analysts, and myself.


“While we cannot rule out talks between Surgut and the Hungarian government continuing behind the scenes, we doubt the buyout will take place in the near term,” commented Olena Kyrylenko, analyst at KBC Securities, on Thursday. (Portfolio.hu)

Due to the tight shareholder conditions imposed by MOL and the Hungarian Energy Office and Parliament, the concerted strategy has resulted in Surgut stuck with its 21.2% stake in MOL. The Hungarian government lacks the money to retrieve the stock for Hungarian pride security of supply.  So now that they have proven that Surgut can’t really do anything with its shareholdings, Hungary can sit back and see if anything comes up they can either barter off, or raise the money to buy it outright. And for this I’m not making any prediction as to “how long the prescribed period of time” is that Hungary will be holding Surgut to the mat. Either way, they’ll probably be in this tight position for awhile. As Hungary lacks the financial resources until at least 2013! Enjoy the mat.