EXCLUSIVE-Atlantia intends to sweeten Abertis offer in due course-sources - Reuters
26-Oct-2017 14:57:38
MILAN/MADRID, Oct 26 (Reuters) - Italy's Atlantia ATL.MI plans to improve its offer for Spain's Abertis ABE.MC to trump a 17.1 billion euros ($20 billion) rival bid from ACS' German subsidiary Hochtief HOTG.DE, two sources close to the matter said on Thursday.
Infrastructure group Atlantia is studying a rejigged cash-and-share bid but wants to wait for Spain's market watchdog to first approve Hochtief's offer before making a move, the sources said.
ACS-Hochtief unveiled their proposal last week but they are still looking for investors who want to team up to acquire Abertis, one of the sources said.
They are also considering selling some Abertis assets, including a minority stake in French motorway group Sanef, should their bid on the Spanish toll-road operator be successful, three sources said.
Atlantia, Hochtief and Sanef all declined to comment on the issues. ($1 = 0.8516 euros)