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MPs approve "Lex-Mol" law |
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Tuesday, 09 October 2007 |
Budapest, October 8 (MTI) - Hungarian MPs on Monday passed a law
designed to protect companies of public strategic interest being
taken over by firms owned or partly owned by foreign governments.
The law, dubbed Lex-Mol, will help to protect Hungarian oil
company Mol from being taken over by Austria's OMV, and has elicited
a stern warning from the EU.
The government says that since OMV is part-owned by the state, a
merger of the two firms would effectively amount to the
re-nationalisation of a private company.
The EU's Internal Market Commissioner Charlie McCreevy has told
Hungary, however, that the country faces action if the new law
stifles free competition between member states.
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