OMV stake in MOL rises to 5.34% as repo deal is closed

Tuesday 12:01, March 10th, 2009

The stake held by Austrian oil and gas company OMV in Hungarian peer MOL rose from 1.03% to 5.34% as OMV closed a repo transaction on MOL shares on March 9, documents published by MOL on the website of the Budapest Stock Exchange reveal.

On Monday OMV closed a repo deal involving 4.5 million MOL shares that it had concluded with Societe Generale on December 5 of last year.

OMV holds the right to repurchase a further 16.6 million MOL shares, or 15.88% of MOL's registered capital, on the basis of two repo deals it entered into with Bayerische Hypo-Vereinsbank. One of the deals is for 7 million MOL shares and will expire on March 19, while the other deal, involving 9.6 million MOL shares, will expire on April 3. (MTI – Econews)