The Croatian Competition Agency (CCA) has rejected the request by the Hungarian oil company MOL to launch a procedure to establish if there was a prohibited agreement among mandatory pension funds concerning the price of the Croatian oil company INA shares, saying that there are no grounds to launch such a procedure according to the Competition Act and that this is a matter of capital market which is regulated by the Capital Market Act which falls under the jurisdiction of the Croatian Financial Services Supervisory Agency (HANFA).
A statement, issued after Thursday's session of the Competition Council, says that the CCA decided to reject MOL's request for launching a procedure to establish if there was a prohibited agreement among mandatory pension funds concerning the price of INA shares.
In its request, MOL said this was a cartel agreement between four pension funds to purchase INA stocks at the same price and in the same period.
