Metrovacesa up as Spanish media reports FCC aims to raise stake in co
07/06/2023 10:35
** Shares in Metrovacesa MVC.MC rise 2.6% after local
media reported FCC FCC.MC seeks to increase its stake in the
Spanish real estate firm, citing unidentified sector sources
** Carlos Slim, owner of FCC, currently holds 20.24% in
Metrovacesa, its third largest shareholder after Santander
SAN.MC and BBVA BBVA.MC , according to Refinitiv data
** To gain a majority stake, Slim would have to buy
additional 30.76% of Metrovacesa's shares, corresponding to a
market value of around 334 mln euros ($357 mln), financial news
website El Economista writes
** FCC declined to comment and Metrovacesa was not
immediately available when contacted by Reuters
** "Carlos Slim continues to demonstrate his appetite for
the Spanish real estate sector and his interest in becoming a
major player in the market," IG analyst Sergio Avila says
** "Rumours of this possible acquisition have boosted
Metrovacesa shares in recent days, with a 5.3% increase so far
this month," Avila adds
** Including Wednesday's rise, the stock has gained 20% YTD
($1 = 0.9353 euros)
(Reporting by Matteo Allievi)
((Matteo.allievi@thomsonreuters.com))