February 1, 2018 / 10:51 AM / a year ago

Hochtief set to win unconditional EU approval for Abertis bid - source

FILE PHOTO - A worker of German construction company Hochtief stands next to the company's logo at a construction site in Essen, western Germany March 8, 2016. REUTERS/Wolfgang Rattay

BRUSSELS (Reuters) - EU antitrust regulators are set to approve without conditions German builder Hochtief’s (HOTG.DE) bid to purchase Spanish airports and motorway operator Abertis ABE.MC, a person familiar with the matter said.

Hochtief, majority-owned by Spanish builder ACS (ACS.MC), is battling Italian airports and motorway operator Atlantia for Abertis. Its bid values Abertis at around 17.1 billion euros (£15 billion), above Atlantia’s cash-and-share offer worth about 15.6 billion euros.

The European Commission, which is scheduled to decide on Hochtief’s bid by Feb. 6, declined to comment.

Reporting by Foo Yun Chee; editing by Philip Blenkinsop

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