OMV has probably made its move because MOL's Statutes limits the exercising of voting rights at 10%, but it is also possible that the deal will initiate yet another legal battle. MOL may claim that OMV sold a 9.6% package with the single intention to go around the Statutes, which is by the way what is OMV objecting to with regard to MOL. The Hungarian group may claim OMV and Bayerische act in concert and the 10% limit applies to them, as well, which may culminate in a legal debate.
The deal, however, also implies that OMV has not abandoned its intention to take over MOL or gain a say in the company for good. This could be positive for MOL's share price. We believe OMV will still be unable to buy up MOL, due to the fact that MOL's management controls over 40% of the company.
