OMV VERBUND position regarding demands of the provincial leaders

5/23/2006Wien

The fact that the merger between OMV and VERBUND was discussed and, in general, met with approval at the provincial leaders’ conference is to be looked upon favourably since it underlines the high importance of this project. However, due to the existing Austrian legislation the implementation of the provincial leaders’ resolution actually means renationalisation.

The project “merger of equals” reflects the ambitious aim of OMV and VERBUND to shape an integrated energy group of European dimensions with the headquarters in Austria. This, and not a renaissance of national economic regulation, is the best guarantor for the strengthening of the economic location of Austria, the securing of jobs, continued growth and, not least, protection of the domestic hydropower.