Veolia says it won't launch hostile bid for Suez

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Veolia closed in this week on an agreement to buy Engie’s stake in Suez, in a prelude to a full takeover bid and marking a breakthrough after weeks of hostilities between the parties.

Veolia “unconditionally commits not to file a hostile takeover bid following the sale of the shares held by Engie in Suez,” the group said in a statement, adding that any bid on the remaining capital of Suez would require the go-ahead from Suez’s board.