Hungary’s gas giant hostile toward apparent
OMV takeover bid
Hungarian Oil and Gas last week bought back over 6 million of its own shares as
it attempted to strengthen its position against an apparent takeover bid by
Austrian counterpart OMV.OMV
announced last Monday it had spent about EUR 1 billion to increase its stake in
MOL from 10% to 18.6%. The Austrian company then said that it wished to invite
MOL to have “an open and constructive dialogue” on strategic cooperation.