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Croatia, European Commission to discuss privatizing oil firm: PM

Xinhua, December 10, 2016 Adjust font size:

Croatian Prime Minister Andrej Plenkovic on Friday said the country would discuss with the European Commission (EC) regarding the latter's request to amend a law regarding the privatization of oil and gas company INA.

Croatia would continue talks with the EC, he said, adding to protect national interests was strategically important to Croatia and INA as a strategic oil company.

On Thursday, the EC requested Croatia to amend the 2002 law on the privatization of INA, the biggest energy company of the country, on the grounds that it violates the free movement of capital and the freedom of establishment.

EC said if Croatia fails to align the INA law with EU law within two months, the commission may refer it to the EU's Court of Justice.

Croatian government and Hungarian oil company MOL are the two biggest holders of INA with a 44.84 percent and a 49.08 percent stake respectively. Endit