The publication reported Wolfgang Ruttenstorfer, OMV’s CEO, as saying that he is against seeking shareholder vote on OMV’s takeover of Mol, as he felt that it was a premature move.
The European Commission (EC) is expected to seek more time to analyze the deal, pushing the final decision to around August 2008, reported the Financial Times. OMV reportedly plans to wait for the EC’s decision in order to go forward with any divestments with relation to the takeover, before confronting Mol’s management.
Mr Ruttenstorfer, as quoted by the Financial Times, said: This is not the right point in time, as the competition issue is still being considered by the EC in Brussels. We’re concentrating on good corporate governance.
