BUDAPEST (Thomson Financial) - Hungarian oil and gas company (27 125 HUF, 2,75%) has dismissed speculation Austrian peer (50 EUR, 1,50%) has approached the management with a buyout offer, saying in a statement that it had "no information on OMV's new inquiry sent to the company", said MTI-ECONEWS news agency.
Earlier, business news website portfolio.hu reported market rumours that had sent a letter to MOL's management proposing a conditional buyout offer of around 30,000 forints, or 119.6 eur, per share. At 1245 pm, shares were trading at 27,050 forints.
also said it would call an extraordinary shareholders meeting soon, portfolio.hu wrote.
raised its stake in from 10 pct to 18.9 pct in what MOL's management termed a hostile takeover attempt in the summer, but MOL's management started buying up treasury shares to fend off the advance.
A package of legislation giving companies extraordinary powers to thwart hostile takeovers, tailored to MOL's needs, has been submitted to Parliament already, leaving little time before its chances for a possible successful takeover are significantly reduced.
also protested in its statement about advertisements run by in the Hungarian press promoting a cooperation between the two companies.
The ads read "Who could become a leading company in Central and Southeastern Europe? -- , and , together." said "the press campaign, launched this week, and the speculations on the new inquiry can raise the question of prohibited influence on market area."