German contractor, Philipp Holzmann is expected to start negotiations this month with companies interested in a potential merger. Holzmann is open to flexibility and will consider either a complete acquisition or remaining independent. The move comes after the company ran into serious financial difficulty in 1999 following the discovery of hidden losses on some contracts. At the time the company was saved by a combination of German government intervention in the shape of loan guarantees and pressure on creditors.
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