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CHAIRMAN OF GERMAN UTILITY GROUP VIAG WILHELM SIMSON IN MUNICH, 1999-03-30 (photo)

IMAGE number
REU8360864
Image title
CHAIRMAN OF GERMAN UTILITY GROUP VIAG WILHELM SIMSON IN MUNICH, 1999-03-30 (photo)
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Medium
photograph
Date
1999 AD (C20th AD)
Shooting Date
1999-03-30
Image description

Wilhelm Simson, chairman of German utility group VIAG, gestures at a news conference in Munich March 30. One of Europe's biggest cross-border mergers collapsed last night after German conglomerate Viag said disagreements with Swiss group Alusuisse Lonza over terms meant that their deal could not go ahead as originally planned. After a meeting of its supervisory board in Munich, Viag said it would insist that its shareholders should own at least 67.5 per cent of the merged group, valued at XEU 20.2bn ($21.5bn) based on both companies' closing share prices. This was rather than 65 per cent envisaged last November when it struck the deal with Alusuisse, an aluminium and chemicals group. MIK/CLH/

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REUTERS / Bridgeman Images
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