Spanish financial market watchdog CNMV has given the go-ahead for Mexican billionaire Carlos Slim's €187 mln takeover offer for Spanish indebted firm Realia.

Spanish financial market watchdog CNMV has given the go-ahead for Mexican billionaire Carlos Slim's €187 mln takeover offer for Spanish indebted firm Realia.

Slim, who launched the offer in March, is offering €0.58 a share for 307 million shares in Realia, or 100% of the company's capital, plus another 14.5 mln new shares that can be issued before completion of the offer.

The bid values the company at €187 mln.

The acceptance period for the takeover offer runs from June 25 to July 24, the same deadline as Hispania Real Socimi's €0.49 a share offer launched earlier this year.

Slim, who is also a shareholder in Spanish construction firm FCC, recently bought a 25% stake in Realia, in a move which effectively trumped Hispania's €151 mln bid.

He indirectly owns a total 61% interest through his holding in Realia’s shareholder FCC.

In a statement the Mexican businessman recently said he wanted to clean up Realia and ‘fully develop the opportunities that it has within its reach as a leading company in the sector’.