Hungary to transfer MOL and Richter stakes to university

Hungary's government will bestow state stakes in two blue-chip companies worth a total of 380 billion forints ($1.34 billion), on the Corvinus economic university in Budapest, daily paper Magyar Hirlap reported on Tuesday. The stakes, 10 percent each in oil and gas group MOL and drugmaker Richter, will be transferred to the Maecenas Universitatis Corvini foundation, which will be barred from selling or short-selling the stock.
Richter shares were up 0.5 percent higher at 5,575 forints by 0936 GMT, while MOL shares was flat at 3,156 forints. The Hungarian blue-chip index gained 0.5 percent.