Abertis has Spanish government try to derail Atlantia bid
The Spanish government is trying to derail a takeover bid by Italian infrastructure group Atlantia [BIT:ATL] on Spanish counterpart Abertis [BME:ABE], Italian-language daily Milano Finanza reported.
The article cited newswire report claiming that some Spanish officials were lobbying Caixa, Abertis' largest shareholder with a 21.5% stake, to accept the rival offer from Hochtief [FRA:HOT], which is bidding on behalf of its parent, the Spanish infrastructure group ACS [BME:ACS].
The report said, Caixa backing the Hochtief bid would be important for the German group, especially in regard to the share part of its offer that needs to collect a minimum 20% of Abertis' stock to be valid.
Abertis has a market cap of EUR 18.86bn.
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