INA's privatisation

EC on Croatian gov't plan to amend law on INA privatisation

  • Autor:
  • Zadnja izmjena 27.09.2011 11:25
  • Objavljeno 27.09.2011 u 11:22


Izvor: / Autor: Tportal

The European Commission believes that Croatian legislation is generally aligned with the European Union acquis communautaire in the area of free movement of capital and it has been in touch with Croatian authorities to check information on the possible amendment of the law on the privatisation of the oil and gas company INA so that it could establish if those rules are possibly being violated.

This statement came on Monday from the public relations office of EU Enlargement Commissioner Stefan Fuele in response to the question how the EC would respond in case the planned amendment of the law on INA's privatisation was in contravention of EU rules. The office said it would continue to follow the case.

The Croatian government last Friday announced a plan to adopt a law under which no one but the Croatian state would be able to have a stake in INA of more than 49 percent.

More than three years ago, the EC was faced with a similar case when Austria's oil company OMV complained about the Hungarian government restricting its management and ownership rights in MOL. The Hungarian government did so citing protection of strategic national interests.

The EC then asked Hungary to stop restricting the OMV's management rights in MOL, but warned at the same time that a merger of the OMV and MOL would jeopardise competition on the Central European market and lead to an increase in prices of oil and oil products. To prevent monopoly, the EC asked the OMV to sell two refineries to its rivals, which resulted in the Austrian company eventually giving up its plan to take over MOL.

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