Haniel says has no plans to cut Celesio stake

FRANKFURT Mon May 6, 2013 3:47am EDT

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FRANKFURT May 6 (Reuters) - Diversified holding company Franz Haniel & Cie. said it has no plans to further reduce its stake in German drugs distributor Celesio, rebuffing a media report.

Stock market newsletter Platow Brief earlier reported that Haniel Chief Executive Stephan Gemkow was considering slashing its holding in Celesio to just above 25 percent.

A Haniel spokesman said there were no such plans nor talks.

Haniel in November sold a 4.6 percent stake in Celesio to reduce its debt burden, cutting its stake to 50.01 percent. (Reporting by Matthias Inverardi and Daniela Pegna; Writing by Ludwig Burger)

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