MOL officially denied press information that it was interested in merger talks with PKN. According to MOL’s spokeswoman MOL was only interested in closer cooperation with PKN, but not in a merger. Our view: MOL announcement bang in line with our opinion that merger talks are pretty unlikely, but cooperation could be fruitful in certain areas operation, especially in coordinating refinery shutdowns and serving clients in south Poland. We see the news as neutral to the share price.