Accor spends 42 mln eur to up stake in Poland's Orbis to 45.48 pct - report

PARIS (Thomson Financial) - France's Accor spent 42 mln eur to increase its stake in Polish hotel and services company Orbis to 45.48 pct, making it the largest shareholder, Les Echos reported.

'A tranche of shares was available, and the dip in the markets this summer constituted an opportunity,' an Accor spokesman told Les Echos. 'But a takeover bid is not on the cards,' he added.

Accor bought a 20 pct stake in the company in 2000.

Source: By Helen Beresford, forbes.com