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Hungary's MOL expands out of trouble
Publication year - 2007
Publication title -
oil and energy trends
Language(s) - English
Resource type - Journals
eISSN - 1744-7992
pISSN - 0950-1045
DOI - 10.1111/j.1744-7992.2007.320913.x
Subject(s) - battle , alliance , capitalization , business , czech , market capitalization , marketing , market economy , management , economy , political science , economics , law , history , ancient history , stock market , archaeology , linguistics , philosophy , context (archaeology)
Hungary's oil and gas group MOL is expanding its operations abroad. It has just bought an Italian refining and marketing company and has agreed to a strategic alliance with a Czech power utility. These latest moves have come against the background of a battle with one of MOL's early strategic partners, the Austrian company OMV, which has recently raised its shareholding in the Hungarian company from 9% to 19%. MOL regards the move as the first stage of a hostile takeover and appears to be trying to become too big for its Austrian neighbour to swallow. The two companies are roughly similar in size. OMV's market capitalization is $20bn, whilst MOL's is just over $16bn.