Mexican tycoon Carlos Slim to launch bid for all of Spain's FCC
MADRID, March 4 (Reuters) - Mexican billionaire Carlos Slim's holding company Inversora Carso said on Friday it would launch a bid for all of Spanish builder FCC at a price of 7.60 euros ($8.36) per share.
Inversora Carso said in statement to the Spanish market regulator that it had increased its stake in the company to 36.6 percent after a 709.5-million-euro rights issue.
Under Spanish law, a shareholder that increases its stake in a company above 30 percent is required to launch a full bid for this company. (Reporting by Angus Berwick and Tomas Gonzalez; Editing by Julien Toyer)
© Thomson Reuters 2016 All rights reserved.