Croatia's market regulator Hanfa may indefinitely block trading of shares in energy company INA-Industrije Nafte D.D. (INA.ZG), a subsidiary of Hungarian oil and gas company MOL (MOL.BU), local news portal Business.hr reported, citing the regulator's president Ante Samodol.

MOL has a 47.2% stake in the Croatian company, as well as mandating rights.

INA's stocks were last traded in Zagreb April 27. The regulator extended a trading suspension of INA shares on the Zagreb stock exchange July 29; INA filed a court complaint against the regulator's decision Aug. 30.

KBC Securities analyst Olena Kyrylenko attributes the move to Croatia's political environment and upcoming elections.

"It's also clear that MOL won't be trying to buy shares on the market and its plans to increase its ownership in INA are postponed at least until the [end of the] elections," she added.

MOL is traded up 0.2% or HUF25 at HUF17,075 at 0718 GMT.

Newspaper website: www.business.hr/hr/Naslovnica/Burza/Ina-ispala-iz-Crobexa

-Budapest Bureau, Dow Jones Newswires; 361-267-0622