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

PARIS (Reuters) – French water and waste management company Veolia ‘s bid for a stake in rival Suez held by utility Engie 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.

(Reporting by Sudip Kar-Gupta and Benjamin Mallet; editing by Sarah White)