Hamburg Demands Compensation From Hochtief, Abendblatt Reports

The city of Hamburg wants compensation of 40 million euros ($52 million) from Hochtief AG (HOT) after the German construction company allegedly failed to complete parts of the new Elbphilharmonie concert hall on time, Hamburger Abendblatt reported today, citing city officials.

Hochtief is rejecting the demand, the German newspaper said, citing Hochtief spokesman Bernd Puetter.

To contact the reporter on this story: Niklas Magnusson in Hamburg at nmagnusson1@bloomberg.net

To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net

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