Hungarian oil and gas player MOL has reportedly denied rumors that a possible merger with Austrian oil and gas company OMV is on the table.
AFX reported that, while MOL’s shares rose after OMV CEO David Davies voiced an interest in acquiring the Hungarian company, MOL later denied any possibility of a merger.
According to AFX, Mr Davies had commented that a merger of the two players would result in considerable operational synergies. At the time, AFX reported Tamas Pletser, Erste Bank oil and gas analyst, as saying: We believe MOL could be acquired in three to five years’ time.
Despite this, an OMV spokesperson later spoke out against industry speculation, and is reported to have claimed that the rumors had emerged from a misunderstanding. AFX reported Thomas Huemer, a spokesman for the Austrian company, as saying that Mr Davies’ comments had been in answer to a speculative question.
AFX did, however, cite Mr Huemer as saying that OMV is still committed to the Nabucco natural gas pipeline, on which it is participating with MOL.