Engie chairman says Veolia bid for its Suez stake not high enough

PARIS (Reuters) – French water and waste management company Veolia (VIE.PA)’s bid for a stake in rival Suez (SEVI.PA) held by utility Engie (ENGIE.PA) at 15.50 euros a share is not high enough, Engie Chairman Jean-Pierre Clamadieu said on Friday.

“It’s not where it should be,” Clamadieu told BFM Business TV.

Veolia last Sunday offered 2.9 billion euros ($3.43 billion) for 29.9% of Suez held by Engie as a prelude to launching a full takeover.