Austrian groups OMV (oil, gas, chemicals) and VERBUND (electricity) have announced their merger creating central Europe's major conglomerate in the sector. Called OMV-VERBUND, the new entity will have a valuation of 29.5 billion euro, will have a combined turnover of over 18 billion euro (15.6 billion from OMV and 2.5 billion from VERBUND) and will employ 52,000 workers. If the necessary authorisation is received from competition authorities, the new company could be operational from late...