Netherlands' PPHE top loser on UK midcaps after Fattal bid falls through

PPHE Hotel

Today 10:36

Updates
** Netherlands-based hotel group PPHE PPH.L fell as much as 20% to 1,600 pence
** Stock is top loser on FTSE mid cap index .FTMC
** Also on track for its biggest one-day pct loss since March 2020
** Co says £920.9 million takeover offer from Israel's Fattal Hotel Group no longer deliverable after PPHE's largest shareholder Euro Plaza Holdings, which holds 33% stake, opposes the bid
** Fattal had proposed possible cash offer of 22 pounds per share, which PPHE said in May represented fair value
** Co says it received another preliminary proposal from unidentified party on May 31 and would seek to conclude strategic review "as expeditiously as possible"
** As of last close, stock down 10% YTD vs FTMC's ~3.5% rise

 (Reporting by DhanushVignesh Babu in Bengaluru)
 ((DhanushVignesh.Babu@thomsonreuters.com))