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GE eyeing property firm

Published January 22, 2008
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MADRID, Jan 21: US conglomerate General Electric said on Monday it was mulling an offer for Spain’s second-largest property firm, Colonial, whose share price has slumped recently due to concerns over its financial health. In a statement, General Electric “confirmed we are studying a possible operation regarding Colonial but as of today have not reached any decision regarding this matter.

The US giant already owns property worth 1.5 billion euros in Spain.—AFP

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