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Veolia CEO says bid price for Suez is fair, does not rule out hostile bid

PARIS, Sept 2 (Reuters) - The price that French utility Veolia is offering for Suez shares is “fair”, Veolia’s chairman and chief executive Antoine Frerot said on BFM Business on Wednesday.

Asked whether Veolia might consider a hostile bid if Suez lead shareholder Engie does not agree to sell its shares, Frerot said “nothing can be ruled out”.

Veolia on Sunday launched a bid for Suez at 15.50 euros per share, offering to buy a 29.9% stake in Suez from French gas and power utility Engie for 2.9 billion euros ($3.45 billion) in the first step to a full takeover. ($1 = 0.8405 euros) (Reporting by Sudip Kar-Gupta and Geert De Clercq, editing by Louise Heavens)

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