September 28, 2018 / 2:58 PM / in a month

Biggest shareholder in Spain's DIA raises stake to 29 pct

MADRID, Sept 28 (Reuters) - LetterOne, controlled by Russian tycoon Mikhail Fridman, has raised its stake in Spanish discount supermarket chain DIA to 29 percent from 25 percent, according to a filing from the Spanish regulator on Friday.

LetterOne, which now holds a 15 percent direct stake in DIA and 14 percent indirectly, is expected to clarify shortly whether it intends to seek control of the company.

According to Spanish merger law, the threshold for launching a full takeover bid stands at 30 percent.

Reporting by Emma Pinedo; writing by Jesús Aguado; Editing by Adrian Croft

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below