MOL rebuffs OMV alliance

Conroy, Will
July 2007
ICIS Chemical Business;7/2/2007, Vol. 2 Issue 73, p24
Trade Publication
The article reports that MOL Inc. has rejected an offer from Austrian energy firm OMV AG to discuss creating a strategic partnership. Earlier, OMV announced that it had increased its stake in MOL from 10% to 18.6%. OMV added that an alliance between OMV and MOL is capable of competing effectively with the larger oil and gas companies in the world. MOL responded by saying that a merger would cut competition between oil and gas industry in the central and east European (CEE) region.


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