TCI Fund Management Lends Support to Atlantia's Abertis Bid
11 Octobre 2017 - 10:29AM
Dow Jones News
By Nathan Allen
British hedge fund TCI Fund Management said Tuesday that it
strongly supports Atlantia SpA's (ATL.MI) takeover bid for Spanish
toll-road operator Abertis Infraestructuras SA (ABE.MC).
"We believe the combination of Abertis and Atlantia will result
in the creation of a significant cash generative, diversified and
growing global infrastructure operator," said TCI's Chief Executive
and Chief Investment Officer Christopher Hohn.
TCI, which owns almost 2.7% of Abertis's shares, has a
reputation for activism and is known for helping topple Deutsche
Boerse's chairman and chief executive during an attempted merger
with the London Stock Exchange in 2005.
Atlantia on Monday received regulatory approval for the bid it
launched in May, which values Abertis at around 16.3 billion euros
($19.22 billion). Abertis's board now has until Oct. 24 to consider
the offer.
However, several Spanish media outlets have reported that Prime
Minister Mariano Rajoy is reluctant to let Abertis fall out of
Spanish control.
Other possible buyers include Madrid-based construction company
Actividades de Construccion y Servicios SA (ACS.MC), or ACS, which
has said previously that it is considering launching a counterbid
for Abertis through its German subsidiary Hochtief AG (HOT.XE).
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
October 11, 2017 04:14 ET (08:14 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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