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Investment fund Ardian decides against bid for Suez

PARIS (Reuters) - Investment fund Ardian has decided not to make a bid for French waste and water utility Suez SEVI.PA in competition with bigger rival Veolia, it said on Monday. VIE.PA

“Ardian has worked on a bid, supported by the board and staff of Suez, requiring six weeks of due diligence. However, in line with the principle of non-hostile talks, Ardian has decided not to make a bid,” Ardian said in a statement.

Reporting by Geert De Clercq and Gwenaelle Barzic; Editing by David Goodman

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