Press Release: Mergers: Commission opens in-depth investigation into OMV’s planned takeover of MOL

The European Commission opened a detailed investigation under the EU Merger Regulation into the proposed acquisition by the Austrian oil and gas group OMV of the Hungarian oil and gas company MOL. The Commission’s initial market investigation found that the proposed acquisition may raise competition concerns in a number of markets. The decision to open an in-depth inquiry does not prejudge the final result of the investigation. The Commission now has 90 working days (until 22nd July 2008) to take a final decision on whether the concentration would significantly impede effective competition within the Single Market.