US General Electric studies possible offer for Spanish Inmobiliaria

By Margarita Snegireva. Stock market regulator CNMV said that trading in the shares of Inmobiliaria Colonial SA has been suspended ahead of a statement.

Photo: US General Electric studies possible offer for Spanish Inmobiliaria

According to a report in Expansion at the weekend, citing unnamed sources close to the operation, General Electric Co is studying making a full bid for the property company.

The Spanish property group has been the focus of intense M&A speculation since its chairman and core shareholders were ejected from the board in a reshuffle just before the New Year.

U.S. conglomerate General Electric is studying a possible offer for troubled Spanish real estate firm newspaper Expansion reported on Saturday, quoting sources close to the deal.

Monday's Expansion reported that a bidding war for Colonial could ensue, with Gecina's Spanish chairman last week admitting to exploratory talks, and with market speculation that 7.2 percent shareholder Domingo Diaz de Mera is looking for bid partners