LONDON/MADRID, April 8 British private equity
fund CVC Capital Partners is the frontrunner in bidding for
Spain's Deoleo - top global olive oil bottler - two
banking sources said on Tuesday.
CVC was among several foreign funds that put in takeover
bids last week for debt-burdened Deoleo. The company said all of
the offers came in below its market capitalization at the time
of around 486 million euros ($669 million).
Spain's government has said it would not block any foreign
bids but has also signalled it does not want the company broken
up by new investors. On Monday Treasury Minister Cristobal
Montoro said the government was interested in investing in the
firm but it was not clear whether it would help Spanish
companies to prepare a rival bid.
(Reporting by Claire Ruckin; Writing by Fiona Ortiz; Editing by