MADRID - Spain's leading construction company ACS said on Tuesday it had succeeded in snapping up more than 30% of shares in German rival Hochtief, a key step towards taking overall control.
ACS said it had acquired 30.34% of the German group, which has battled against the Spanish bid.
Under German law, ACS is now allowed to buy its rival's shares on the open market, a major boost in its campaign to grab more than 50% of Hochtief and become the largest publics work group in Eu rope, or third biggest worldwide.
All rights reserved. This material may not be reproduced, published, broadcast,
rewritten or redistributed without prior permission in writing from AFP.
Source: AFP
Publisher: I-Net Bridge
Source: I-Net Bridge
