VIENNA- OMV's chief executive confirmed the group's plans to complete an agreed asset swaps with Gazprom by the end of the year, but said the two companies still disagreed about corporate governance issues.
The two groups agreed in December 2016 to swap a 38.5 percent stake in OMV's Norwegian unit for a 25 percent stake in a section of Gazprom's Urengoy gas field.
"We need an agreement on corporate governance in both companies, such as the influence both companies have in Russia and Norway on a management level and within the organisation as well as regarding the organisational structure," OMV CEO Rainer Seele said at a news conference on Wednesday, adding that negotiations were difficult.
"It takes so long because there is no agreement," Seele said. "As soon as we reached agreement on this point, the approval procedure will be initiated in both countries."
(Reporting by Kirsti Knolle; Editing by Maria Sheahan) ((kirsti.knolle@thomsonreuters.com; +43 1 53112 255; Reuters Messaging: kirsti.knolle.thomsonreuters.com@reuters.net www.reuters.com))
