Battle of small giants…

Financial Times: " OMV, the Austrian energy group, said it would not be deflected from plans to forge closer links with Mol, in spite of the Hungarian company’s recourse last week to a white knight from the Czech Republic. …

Mol is now believed to control 39.5 per cent of its own stock, with a large part parked with friendly institutions to get round a Hungarian law banning a listed company from owning more than 10 per cent of its own equity. …

“It is clear that Mol’s intention by tying up with CEZ is to try to park its shares with a friendly company to block a takeover by OMV,” said Tibor Bokor, an analyst at Wood & Co in Prague. …"

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