* KNOC owns or has acceptances from 64 percent of share capital
* Waives previous 90 percent acceptance condition
* Extends offer, will remain open until further notice
SEOUL/LONDON Sept 24 (Reuters) - Korea National Oil Corp. said it had control of 64 percent of British oil explorer Dana Petroleum, paving the way for the biggest hostile acquisition by a South Korean firm to take place.
KNOC said on Friday the $2.6 billion offer for Dana had been declared unconditional after it waived an original clause requiring it to have 90 percent acceptances from shareholders.
The Korean company has since received acceptances from 34.8 percent of shareholders to add to the 29.5 percent stake it bought in Dana last week..
The offer would now be extended, said KNOC, and remain open until further notice.
KNOC needs acceptances from 75 percent of shareholders before it can delist Dana from the London Stock Exchange and 90 percent before it can begin a squeeze-out process.
In August, KNOC said it had secured non-binding letters of intent to accept its bid from around 49 percent of shareholders.
South Korea has given the oil company a $6.5 billion warchest this year to compete with energy-hungry Asian state firms in a race to secure supplies and to cut Asia's No.4 economy's almost total dependence on imported oil.
KNOC sought to acquire Dana for 1,800 pence a share and Dana's shareholders had until Thursday, when shares closed at 1,793 pence, to accept the offer.
Analysts widely believed that the bid would succeed as KNOC has refused to budge on price and no new bidder has emerged.
Dana has maintained it is worth more than the 1,800 pence a share offer from KNOC citing an independent valuation. (If you have a query or comment on this story, send an email to newsfeedback.asia@thomsonreuters.com) (Reporting by Sarah Young in London, Yeojung Chang and Ju-min Park in Seoul; Editing by Brett Cole and Anshuman Daga)