MOL’s Gas Transmission subsidiary has called for an auction of natural gas on May 4. The company plans to sell as much as 1bn cubic metres of natural gas. The move is in line with the requirements of the Hungarian Competition Office, which only approved the MOL–E.ON deal on condition of the sale in order to improve competition on the Hungarian gas market.
We believe the news will be neutral for MOL’s share price. We maintain our Buy recommendation on the stock with a target price of HUF 25,730.