>10% cap on voting rights seems right to me. I hope this should deter them from any malicious course of action :-)

By offering 43.6% preium over market price, OMV tried the greed factor to persuade the shareholders to change the rules of Article of Association.

Background

On 25 September last year, OMV declared its intention to combine OMV and MOL. In this announcement, OMV highlighted that it is in a position to offer MOL's shareholders HUF 32,000 per share in cash with a partial share alternative once certain technical impediments to achieve voting control of MOL, namely the state-imposed 10% voting limitation and the shares under management control, are removed.

This price represents a 43.6% premium to MOL's unaffected share price of HUF 22,290 on May 21, 2007 and a 39.2% premium to yesterday's closing price of HUF 22,995. On removal of the impediments, an offer would be conditional solely on securing at least 50% voting control of MOL and securing EU anti-trust approval.