The Hungarian energy group MOL has entrusted the task of protecting itself from the takeover by the Austrian OMV to experts from Goldman Sachs and former EU competition commissioners Mario Monti and Karel van Miert, reported London’s The Financial Times.
Among MOL’s advisors, according to Bloomberg, are the Swiss bank UBS and Morgan Stanley. The Austrian OMV has chosen Deutsche Bank and JPMorgan Chase & Co. as advisors for the takeover of MOL. The Hungarian parliament recently adopted a new law to protect strategic Hungarian companies from foreign takeovers, which has been dubbed "Lex MOL" due to its targeted protection of the state oil company. (H)
