UPDATE 1-Immofinanz drops planned offer for CA Immo stake

April 16, 2015 8:01 PM

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BERLIN/VIENNA, April 16 (Reuters) - Austrian property group Immofinanz has scrapped its offer for a stake in rival CA Immo because it would not gain enough influence over the group's supervisory board, it said on Thursday.

Immofinanz had been due to ask shareholders on Friday to approve an offer for up to 29 percent of its smaller rival, but said it would not proceed with the plan.

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