BREAKING NEWS

BREAKING NEWS

Regulator go-ahead puts Hochtief closer to takeover

Now Reading:

Regulator go-ahead puts Hochtief closer to takeover

Text size Aa Aa

Germany’s biggest construction group Hochtief is a step closer to being bought out by Spanish rival ACS after German regulators gave the hostile takeover the green light. ACS already owns a 30 percent stake in Hochtief and hopes now to gradually bump that up to a controlling stake of just over 50 percent. Hochtief’s options for avoiding the takeover now seem very limited.