Accor has denied it has changed its mind on the planned merger of Compass with Granada. The French hotel group is the biggest shareholder in the British Compass group.
Contradictory statements have come out from different top Accor executives on the deal creating confusion over whether it is for or against. An official statement from Accor claimed no contradiction.
It would only take 25% of shareholders to scupper the deal. Accor owns 4.5% of Compass shares and the way in which it votes on June 28 is likely to influence others. It is thought Accor may have struck a deal with Compass to buy the Posthouse hotel chain that Granada may have to sell,although an Accor official denied the subject cropped up.
Contradictory statements have come out from different top Accor executives on the deal creating confusion over whether it is for or against. An official statement from Accor claimed no contradiction.
It would only take 25% of shareholders to scupper the deal. Accor owns 4.5% of Compass shares and the way in which it votes on June 28 is likely to influence others. It is thought Accor may have struck a deal with Compass to buy the Posthouse hotel chain that Granada may have to sell,although an Accor official denied the subject cropped up.
