Madeco (MAD.SN), a Chilean maker of copper and aluminium products, has agreed to gradually lift its 9 percent stake in French cable maker Nexans (NEXS.PA) to 20 percent, Nexans said on Monday. Talks between the two companies have been going on for some time since Madeco took a stake three years ago and Nexans itself had not been approached by any potential acquirer, said Chairman and Chief Executive Frederic Vincent. "We had been looking for some time to build a stable shareholding," he told reporters in a conference call.
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