The Turkish Competition
Authority Friday approved Austrian oil and gas company OMV AG (OMV.VI) to
increase its stake to 95.72% in Turkish fuel and oil products retailer Petrol
Ofisi AS (PTOFS.IS), or POAS, the Ihlas News Agency, or IHA, reported.
OMV AG said last month it would increase its share in POAS to 95.75% from
41.58% by acquiring Dogan Holding's stake in the Turkish company for EUR1
billion.
POAS had posted a consolidated net profit of 140.8 million Turkish lira ($94.8
million) in the first nine months of the year.