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STOCKS NEWS EUROPE-AB jumps 11 pct as Delhaize ups offer

Mon Jun 29, 2009 4:48am EDT

Stocks

   

Shares in Greece's second largest food retailer Alfa-Beta Vassilopoulos (ABVr.AT) soars more than 11 percent with analysts citing the improved tender offer price by Belgian super market chain Delhaize (DELB.BR).

"AB shares open up at the levels of 34.0 euro, which is the improved price offered by Delhaize. The question is whether shareholders believe the price is justified," says an Athens based analyst who declines to be named. "A larger take-up should be expected."

Earlier in June Delhaize launched a voluntary 30.5 euro per share cash offer to acquire the remaining shares of Greek supermarket chain it does not already own.

(Reporting by Tatiana Fragou; Editing by George Georgiopoulos)



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