Spütz nicked? NewMedia Spark fears the wurst

German investment bid falters as rival steps in...

German investment bid falters as rival steps in...

Tech investment company NewMedia Spark faces opposition in its attempt to gain a foothold in the German market with a bid for brokerage Spütz. A "renowned German listed bank" is preparing a rival bid for the business, the Financial Times reports, which places a higher value on the company than NewMedia Spark. NewMedia Spark's offer of E47m (£29.3m) is also under scrutiny by the German takeover commission because it may contravene voluntary takeover guidelines. Spütz CEO Bernard Freytag urged stakeholders to reject NewMedia Spark's bid on 47 September because of a lack of a "significant synergy effect".