Spanish Acciona: Mostostal Warszawa’s strategic investor?

Spanish construction group Acciona, with a 24% stake in construction company Mostostal Warszawa, aims to increase its share to 49%,ultimately becoming its strategic investor. According to a Mostostal statement released yesterday, the Securities and Stock Exchange Commission (KPWiG) has already granted Acciona permission to exceed the threshold of 33% of stock, giving it the green light to go ahead today with a public bid which will last until March 8th . Mostostal's largest shareholder, Elektrim, with a 28% stake in the builder, has not yet decided whether it will sell its shares to Acciona. The Spanish company’s plans include expansion of Mostostal Warszawa’s stock exchange activity and direction of its ongoing modernization. In order to raise its future stake above 50%, Acciona will need further KPWiG permission. (Parkiet, p.1) M.S.-C.