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FCC May Sell Picasso Tower to Investor Ortega, Expansion Says

Fomento de Construcciones y Contratas SA (FCC), a Spanish building company, may sell its Picasso Tower in Madrid to Amancio Ortega, Inditex SA (ITX)’s biggest shareholder, Expansion reported, without citing anyone.

Ortega put in an offer of about 500 million euros ($653 million), the newspaper said.

To contact the reporter on this story: Esteban Duarte in Madrid at eduarterubia@bloomberg.net

To contact the editor responsible for this story: Paul Armstrong at parmstrong10@bloomberg.net

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