Anbang denies InterCon bid report
Anbang has denied it plans to make a bid and is not considering an offer for InterContinental.
InterContinental, with a market value of 6.27 billion pounds (US$8.2 billion), has been the subject of recurring takeover speculation amid consolidation in the lodging industry worldwide.
Beijing-based Anbang in March abruptly withdrew its US$14 billion takeover offer for Starwood Hotels & Resorts Worldwide, clearing the way for Marriott International to buy the US hotel company.
The UK’s Sunday Times reported that Anbang was in the early stages of considering making a 7 billion pound offer for InterContinental.