EC Raises Concerns Over OMV Takeover Of MOL

Law360, New York (June 24, 2008, 12:00 AM EDT) -- The European Commission has reportedly voiced strong concerns about the Austrian oil and gas leader OMV AG's $20 billion hostile takeover of Hungarian rival MOL Group.

OMV announced on Tuesday that it had received a statement of objections from the EC's competition office, listing several areas that could suffer anti-competitive effects if the two firms merge, Dow Jones Newswires reported.

The commission asked OMV to propose concrete actions the company could take to allow the merger to clear regulatory scrutiny, Dow Jones said.

A spokeswoman for...
To view the full article, register now.