Citigroup switched to an accelerated deal to resurrect the sale of a 73bn Hungarian forint (€278m) stake in MOL, the oil and gas group, after the Hungarian government pulled the deal at the last minute in December.

Last year the government planned to sell a 17.6% MOL stake worth approximately Hf106bn via Citigroup, who spent three weeks marketing the deal. The book was twice covered but the government pulled the offer because it was not satisfied with the price.