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In central and eastern Europe, the big news was a potential strategic alliance between Hungarian firm Mol and Poland's PKN Orlen.
PKN and Mol have talked about tying the knot in the past, but this time both national governments are backing the idea, giving the alliance greater credibility after talks were held in Bucharest in November But the issue of which firm will lead the merged company is still likely to prove divisive
In April, Mol paid $85mn for 31.6pc of Slovakian refiner Slovnaft, on top of the 36.2pc it bought in 2000. It also bought 25pc of Croatian oil company Ina, for $505mn. The price was considered high, but the Hungarian company says it was …