Gyurcsány: MOL Takeover to be Opposed By all Means

Hungarian Prime Minister Ferenc Gyurcsány said that OMVs purchase of shares in MOL is a hostile act and Hungary will fight a possible takeover by all means.

“I do not consider it a friendly step when a state-owned company buys a stake in another company without prior notice with intention to gain control over it," local newswire MTI quoted Gyurcsány as telling a press conference in Budapest.

“We will use any means necessary to thwart this," he added.

He said he interprets the move by the Austrian oil and gas group as an intention for a hostile buyout, since it is not based on a voluntary co-ordination of strategies. He also noted the government would hold talks with MOL on the matter.