Abu Dhabi's IPIC says no plans to raise OMV stake

Austrian energy group's CEO says talk of IPIC increasing interest is 'all just rumours'
Abu Dhabi's IPIC says no plans to raise OMV stake
(Photo for illustrative purposes only)
By Reuters
Fri 27 Jul 2012 11:04 AM

There are no plans at this stage for Abu Dhabi's state-owned fund International Petroleum Investment Co to raise its 24.9 percent stake in Austrian energy group OMV, OMV's chief executive told a newspaper.

"There are no talks at all about changing anything. These are all just rumours," Gerhard Roiss said in an interview with Der Standard that was released ahead of publication on Friday.

The Austrian government in February dismissed IPIC's request for permission to raise its OMV stake to at least 25 percent.

Austrian law requires non-European investors to get advance approval to increase stakes in strategic groups like OMV to above 25 percent.

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