Omv Looks To Mol Agm

摘要

Austrian oil and gas company OMV will propose at the company's annual general meeting April 24 that the "quasi" treasury shares of Hungary's MOL be unwound and disenfranchised of all rights, as it continues to push for a merger between the two companies. MOL's management has direct or indirect controls of an estimated 43% of the company's shares through a combination of treasury shares and shares placed in friendly hands loyal to the MOL board.rnOMV holds 20.2% of MOL's shares, and last year said it was prepared to buy the company at Forint 32,000 ($186) per share. MOL and the Hungarian government are against the merger and have vowed to resist it. "We don't think MOL is playing by the rules," OMV CEO Wolfgang Ruttenstorfer told Platts in an interview February 26.rnThe European Commission is currently examining the anti-competitive implications of an OMV-MOL merger, and OMV expect the Commission's final opinion in around August, Ruttenstorfer said. When asked what OMV would do if the EU found major asset disposals would be required, he said: "Well, we will cross that bridge when we come to it."