BRUSSELS LAUNCHES PROBE INTO MOL TAKEOVER BID
March 1st, 2008
By Alan Osborn
The European Commission believes that the proposed acquisition by the Austrian oil and gas group OMV of the Hungarian oil and gas company MOL "may raise competition concerns in a number of markets." Brussels has ordered an "in-depth" investigation of the deal and will make a decision within 90 days. OMV is the main Austrian oil and gas company, owning the only refinery in the country and two refineries in Bavaria and is active in the wholesale and retail markets for refined oil products in a number of neighbouring countries. ...
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