Investment firm Ardian says it is not working on rival bid for Suez

PARIS: Ardian is not working on a counter offer to buy French water and waste management company Suez , the investment firm's chairwoman told a hearing at the French Senate about Veolia's hostile bid for its smaller rival.

"We are not working today on a counter-takeover project," Dominique Senequier said, adding that it would be important to name a mediator in the Veolia and Suez situation.