BREAKING NEWS

BREAKING NEWS

Investors holding over 50 percent of Abertis back Atlantia's bid - Italian sources

Now Reading:

Investors holding over 50 percent of Abertis back Atlantia's bid - Italian sources

Text size Aa Aa

MILAN (Reuters) – Investors holding more than 50 percent of Abertis’ <ABE.MC> shares have expressed non-binding support for a takeover bid on the Spanish toll road operator launched by Italian rival Atlantia <ATL.MI>, two Italian sources said on Wednesday. However, one of the sources said that Abertis’ top investor Criteria Caixa – the financial arm of a politically connected and powerful banking foundation – has not yet committed to taking up Atlantia’s offer, which started last week and will end on Oct. 24. Atlantia and Criteria Caixa were not immediately available for comment. German construction group Hochtief <HOTG.DE>, controlled by Spain’s ACS <ACS.MC>, is expected to present a counterbid for Abertis later on Wednesday, people close to the matter told Reuters.

(Reporting by Paola Arosio, writing by Silvia Aloisi, editing by Francesca Landini)
euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.