Brussels, 06/08/2008 (Agence Europe) - Austrian oil and gas company OMV has abandoned its plans to buy up Hungary's oil and gas company MOL. Following interruption, negotiations started up again with the European Commission in June following the Commission's concerns that the buy-up would lead to excessive concentration of refining capacity in central Europe (see Europe 9673) and are still under way.
In a press release, OMV says that it is withdrawing its buy-up plans that led to an offer...