Leighton price attracts Hochtief

Hochtief CEO says his firm 'took advantage' of low prices to raise stake.

Hochtief chief executive Marcelino Fernandez Verdes has said his company was seeking to “take advantage” of Leighton Holdings's (LEI) weak share price earlier in 2013 when it raised its stake in the company, according to The Australian Financial Review.

On June 21, Leighton's share price fell to a 52-week low of $14.40, around the same time its parent, Hochtief, began raising its stake in Leighton.

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