Hungary's financial watchdog said no one had filed a public bid for shares of MOL on Friday, despite government fears that OMV would do so. Earlier, a senior Hungarian government source told Reuters that OMV would file a bid for all shares of MOL on Friday, but this was denied by OMV. Sources familiar with OMV's thinking said OMV was considering and had made preparations for a possible bid but that it was not imminent. "There is a medium to long term game being played," one source said.
Our view: Though no bid was filed on Friday, we believe that “bid-or-no bid” story will continue this week. OMV might be denying the potential offer however the rumors on governmental level signal to us that there could be some kind of preparations already. MOL’s share price is expected to be supported by takeover speculations and to remain resistant to the negative market trend.