Performance
The choice was between the usual suspects, to which everyone encounters in need of a telephoto zoom lens in the MFT system:
-Olympus 75-300mm,
-Panasonic 100-300mm,
-Olympus 40-150mm,
-Panasonic 45-200mm,
-and- diverse MFT Adapter telephoto zoom combinations.
The latter dropped out because the push adapter combo can not take advantage of the high speed of the OM-D autofocus or simply make only manual focus is possible.
The two great Olympus and Panasonic were too expensive for the performance, also suited me the combination of easier system camera and heavy, large lens does not quite together. But I hope that the Olympus 75-300mm 2nd generation is slightly better.
So were my choice only the two little ones from Olympus and Panasonic. Both I could test with several hundred photos. The performance is almost identical in my view, with the Olympus draws on 100mm something "crunchy" and the Panasonic dissolves worse 100mm focal length. Mind you, both are fairly close together. Visually you need for the price of course, compromising, compared to my 5 times (!) More expensive Canon 70-300mm L lenses are -they are certainly vermuten- weaker, but this is not a fair comparison.
Mechanical and feel that Panasonic is clear more, also a carrying bag and a GeLi to fix them and the more focal length speaks for the Lumix.
However, the Pana is also twice as heavy, has a 50% larger volume and the auto focus seemed to be slower. The Olympus is with 190g contrast, very light and offers a further advantage: I purchased with my OM-D at the same time the Olympus 12-50mm. At 40 mm, the maximum aperture is here at 5.8 and 50mm 6.3. The 40-150mm contrast, starts at 4.0 at 40mm and 50mm at the widest aperture is 4.2!
Overall, I'd give the Olympus 5 stars for the price / performance ratio, but the annoying bad habit that GeLi are not supplied.