for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

France's Europcar rejects takeover bid, saying price too low

PARIS, June 23 (Reuters) - French car hire group Europcar said on Wednesday it has rejected a takeover bid, without specifying the bidder, saying the 0.44 euro ($0.5254) per share price offered was too low.

Europcar said further talks might take place.

“The board of directors of the company has concluded that the price of 0.44 euros ($0.53) per share proposed does not reflect the company’s full value and value creation potential”, Europcar said in a statement.

Bloomberg news agency reported that Europcar had rejected a $2.6 billion takeover bid from German carmaker Volkswagen . ($1 = 0.8379 euros) (Reporting by Matthieu Protard; Editing by Jan Harvey)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up