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Bid target Colonial to leave Spain's Ibex index

Thu Mar 13, 2008 12:47pm EDT

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MADRID, March 13 (Reuters) - Real estate bid target Colonial (COL.MC) will be pushed out of Spain's blue-chip Ibex index .IBEX, by Tecnicas Reunidas (TRE.MC), which builds energy plants, the committee that monitors the Ibex said on Thursday.

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The changes will become effective from April 1.

Colonial is the subject of a partial takeover offer from sovereign wealth fund Investment Corporation of Dubai. (Reporting by Sonya Dowsett; Editing by Ben Harding)

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