Hochtief CEO says felt no political pressure to launch Abertis bid
DUESSELDORF (Reuters) - German builder Hochtief's (HOTG.DE) 17.1 billion-euro (£15.2 billion) bid for Spanish toll road operator Abertis (ABE.MC) is purely based on business considerations, Chief Executive Marcelino Fernandez Verdes said.
"(It had) nothing to do with political decisions," Verdes told journalists at a press conference on Wednesday after announcing the counter-bid to Atlantia's (ATL.MI) offer.
He added that the headquarters of the combined company would be located in Essen, Germany, and that no job cuts are planned as part of the transaction.
Spain's ACS (ACS.MC), which currently owns 72 percent of Hochtief, could be diluted to below 50 percent through the Abertis deal, Verdes said.
(Reporting by Arno Schuetze. Editing by Andreas Cremer.)
