MOL to pursue its own strategy

MOL Group management has been informed Monday morning about the share buying of OMV and its offering “open and constructive approach” for a “structured friendly dialogue” published in the press.

While MOL is happy to see that a market competitor sees MOL shares as an attractive investment opportunity, it would like to clarify that it has an unchanged intention to follow its own proven strategy to create value for its shareholders and MOL is not willing to discuss such strategic intentions with the management of OMV.

The benefits of an alliance between the two companies have been highlighted several times in the past and a combination between the two companies has been considered by the management MOL many times. However the management of MOL believes that the closer cooperation of two biggest company in the region in order to use the synergies would mean the elimination of the regional competition. This is obviously disadvantages and does not provide additional value for the CEE region and its stakeholders.

Finally, in past talks of varying depth with regional counterparts, MOL always had a clear approach to favour partners who were not influenced by dominant or strong shareholdings from foreign Government entities.