PARIS, June 2 France's financial regulator said
it would not set a closing date for an offer for Club
Mediterranee from a French private equity firm and
Chinese conglomerate until Italian businessman Andrea Bonomi
decides whether to counterbid.
The AMF last week gave Bonomi-led fund Investindustrial
Development until the end of June to make a rival bid for the
French holiday company.
It extended the existing 557 million euro ($760 million)
offer from France's Ardian and China's Fosun to an
Should Investindustrial choose not to enter the race for
Club Med by 1600 GMT on June 30, it will be barred from making
an offer for a period of six months under AMF rules.
"As we don't yet know if there will be a second offer, it is
difficult to fix the deadline (for the Fosun-Ardian bid)," AMF
Chairman Gerard Rameix told a news conference on Monday.
"That's why we have extended (it) and why we could extend it
again if necessary."
The AMF had asked for clarity on Bonomi's intentions towards
Club Med after one of his funds, Strategic Holdings, became the
company's top shareholder last month with a stake of more than
Shares in the holiday group touched a fresh 5 1/2-year high
of 19.75 euros on Monday, above the existing offer price of
17.50 euros a share.
($1 = 0.7328 Euros)
(Reporting by Matthieu Protard; editing by Jane Baird)