06/03/2008 (Agence Europe) - On Thursday 6 March, the European Commission announced a probe (in compliance with the EU regulation on concentrations) into the planned buyout of the Hungarian gas and oil company MOL by the Austrian oil and gas company OMV. At the end of its initial investigation, the Commission estimated that this proposed buyout could create competition problems in certain markets. The decision to open an investigation does not influence the final result of the probe. The Commission now has 90 working days (until 22 July 2008) to reach a final decision on whether the planned transaction would significantly distort competition significantly in the single market. (O.J.)