Gildemeister says Mori Seiki not preparing full takeover
DUESSELDORF, Germany (Reuters) - Gildemeister (GILG.DE) said an Austrian competition authority announcement stating Mori Seiki 6141.OS was seeking sole control over the German machine tool maker referred to Mori Seiki's plan to take just close to a quarter of its shares.
A regulatory filing published on the Austrian antitrust watchdog's Web site earlier on Friday said the Japanese company plans to take "sole control" of its German partner Gildemeister.
"There is no news," a Gildemeister spokesman said.
He added that to his knowledge the filing was in response to plans Mori Seiki announced in March, when it said it would increase its stake in Gildemeister to 24.9 percent from 20 percent via two capital increases.
Gildemeister, which is deepening cooperation with its Japanese partner, has said it had no concrete plans to merge with Mori Seiki for the moment, but such a deal could be possible in a few years.
Mori Seiki in Germany was not immediately available to comment.