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 Possible takeover of MOL - Hugarian oil company

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Rzeczpospolita

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Number of posts : 390
Age : 36
Localisation : Gdansk, Poland
Registration date : 2007-06-08

PostSubject: Possible takeover of MOL - Hugarian oil company   Tue Jun 26, 2007 10:18 pm

http://www.finanznachrichten.de/nachrichten-2007-06/artikel-8487635.asp

Quote :

OMV said in a statement that it had almost doubled its stake in MOL to 18.6 pct, sending MOL more than 5 pct higher and boosting shares in oil companies in neighbouring Poland.

'The news is extremely bullish for MOL stock. It looks like at least three parties are buying MOL stock now: (Russian businessman) Medget Rahimkulov, OMV and MOL itself,' said analysts at Erste Bank.

MOL executives again signalled they were not in favour of a deal and OMV chiefs told a morning press conference it had raised its stake to position better for the consolidation it expects in the region's oil and gas sector rather than for a takeover bid.

This is interesting, a Russian guy probably collaborate with Gazprom or other Russian state owned company. So, this would be very unwise to allow him to takeover such strategically company.

On other hand Austrians which also cooperate with Russians. I would rather prefer MOL to be taken over by our PKN ORLEN than to be surrounded by Russian monopolists in the future. I remember once such plan was discussed but if I recall correctly Polish side was not sure how much MOL stakes are owned directly or indirectly by Russians.

What is the position of Hungarian political elites towards eventual takeovers? Do media outlets cover this story at all?
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Kiskun

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Localisation : Hungary, Kecskemét
Registration date : 2007-05-20

PostSubject: Re: Possible takeover of MOL - Hugarian oil company   Thu Jun 28, 2007 6:16 pm

Fortunately ALL parliament parties agree that the government must save MOL from getting into foreign hands. This is nearly our only Hungarian company which is successfull and known in the region. I agree too of course.
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Rzeczpospolita

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Number of posts : 390
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PostSubject: Re: Possible takeover of MOL - Hugarian oil company   Thu Jun 28, 2007 9:20 pm

Kiskun wrote:
Fortunately ALL parliament parties agree that the government must save MOL from getting into foreign hands. This is nearly our only Hungarian company which is successfull and known in the region. I agree too of course.

The question arise whether Hungarian politicians have still something to say? The EU is trying to forbid voting preferences and Hungarian government has not majority stake.

Quote :
MOL capital and shareholder structure (approximate)

The Company’s share capital amounts to HUF 108,985,250,578 represented by 108,984,671 pieces registered ordinary shares of the series “A” with a par value of HUF 1,000 and 578 pieces registered ordinary shares of the series “C” with a par value of HUF 1,001 and one piece registered voting preference share of the series “B” with a par value of HUF 1,000 that entitles the holder thereof to preferential rights as specified in the present Articles of Association. The "B" series share is owned by the Hungarian Government.
Table is outdated, add this shares that OMV just bought.



Quote :

EU rules strengthen role of shareholders

The rules outlaw share-blocking, in which holders are required to lock down their positions for a period before casting ballots. Companies will instead set a record date within a 30-day period before the election, giving the vote to whoever holds shares that day. Companies will also be required to call general meetings at least 21 days in advance, or 14 days for special meetings.

http://www.iht.com/articles/2007/06/12/business/rules.php
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Kiskun

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PostSubject: Re: Possible takeover of MOL - Hugarian oil company   Sat Jun 30, 2007 1:14 pm

Yeah, I heard it is very bad. But we shouldn't let flow our only belonging to foreigners Crying or Very sad
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Rzeczpospolita

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Number of posts : 390
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Localisation : Gdansk, Poland
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PostSubject: Re: Possible takeover of MOL - Hugarian oil company   Tue Jul 03, 2007 11:07 am

I’m afraid that our companies are too small in comparison with other foreign concerns to avoid takeover in the future. This is why it would be good to merge Central European oil companies and control them together.

I have no problem with such companies to be sold to foreigners but this is specific case with danger of takeover by state owned Russian giant aimed by political not economical motivation.
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Rzeczpospolita

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Number of posts : 390
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PostSubject: Re: Possible takeover of MOL - Hugarian oil company   Mon Aug 06, 2007 9:57 pm

I have read that MOL would wish more cooperation with PKN Orlen rather than with OMV. The supposed reason is that they both control different countries and don't compete on the same markets.
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