“This is a wrong development strategy (Ed. n. of OMV); they bought these shares behind our backs. We told them not to do this because a company resulting from a MOL-OMV merger would be forced by Brussels to sell its assets, which would yield less added value for shareholders than if cooperation on third-party markets,” said the Hungarian group’s CEO. Mosonyi indicated that MOL proposed to OMV that they cooperate in the area of production and exploration in Pakistan.
Goals. The objectives and strategies of the two companies are different: “OMV is interested in increasing its size, while MOL is looking for increased profitability,” said MOL’s CEO.
Bid. The Austrian OMV group, with a direct 10 percent participation in MOL, launched a public take-over bid, with OMV’s President Wolfgang Ruttenstorfer announcing that he is prepared for a two-three year process.
Plans. MOL simultaneously initiated regional acquisitions and a strategic partnership with Czech energy producer and distributor CEZ, to ensure that it meets its goal of remaining an independent and most profitable energy company in Eastern and Central Europe.
