Brussels stops clock on OMV review
The European Commission has suspended its review of plans by Austrian producer
OMV to take over Hungarian peer MOL.
"It's because we asked for information that they have not provided, so we have
had to stop the clock," Jonathan Todd, a spokesman for the European Union
executive, said.
OMV owns 20.2% of MOL and wants to buy the rest, but the Hungarian company has
resisted the bid, which valued MOL at $20.7 billion, not including debt.
The Commission had previously extended its deadline for reviewing the
competition implications of the deal to 22 July.
The Commission, executive arm of the European Union, made the announcement in
a daily list of planned mergers under review.
05 May 2008 09:38 GMT
| last updated:
05 May 2008 09:53 GMT
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