LetterOne eliminates the minimum acceptance level for the takeover bid on DIA.

May 07, 2019

14:47

LetterOne continues to try to facilitate the acceptance of its public takeover bid (OPA) for Grupo DIA, having eliminated the minimum acceptance level.

“ LetterOne has completely eliminated the minimum acceptance level condition to which the offer was subject ,” indicates Mikhail Fridman's investment fund in the statement sent to the Spanish securities market regulator.

Back in late April, the terms of the takeover bid had already been modified, lowering the minimum capital acceptance requirement from 35,5% to 21%. Now, this requirement has been eliminated completely.

Therefore, LetterOne requested the corresponding authorization from the regulator.

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