Fingerprints approached about takeover bid by Chinese firm
24 November 2017 15:14 GMT

Sweden's Fingerprint has revealed that it has been approached about a takeover bid by Chinese firm, but doubts it will go ahead.

Swedish newspaper Dagens Industri reported that China’s Beijing Watertek was preparing to bid for the company.

Fingerprint said a bid was unlikely to materialize but it had been required under stock exchange rules to make a statement to protect against insider trading.

“Since the overall assessment is that the probability for the offer plans being realized is low, the company does not consider that the information constitutes insider information.” Fingerprint said in its statement. It did not elaborate on why it viewed an offer as unlikely and a company spokesman could not immediately be reached for comment.

Dagens Industri’s report said a letter from Beijing Watertek had been delivered to FPC Chairman Jan Wareby and CEO Christian Fredrikson this week, citing a source close to the Chinese company.