PARIS, Feb 2 (Reuters) - French water and waste management giant Veolia reaffirmed on Tuesday its 29.9% stake in rival Suez was not for sale, saying it was committed to its merger plan for the two companies.
Suez and Veolia have been locked in a bitter dispute for months as Suez opposes Veolia’s takeover plans.
In a press release, Veolia also said it remained open to discussions with Suez’ board of directors on the merger plan.
Suez said last month that French investment fund Ardian and U.S.-based Global Infrastructure Partners (GIP) had formulated a letter of intent proposing various investment scenarios, including possibly a bid for the whole company, as an alternative to Veolia’s plan. (Reporting by Sudip Kar-Gupta and Benoit Van Overstraeten; Editing by Kirsten Donovan)