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. Last Updated: 07/27/2016

Viag-Algroup Merger

FRANKFURT, Germany -- The utility Viag AG denied market speculation Thursday that its planned merger with Switzerland's Alusuisse Lonza Group (Algroup) was in trouble.

A Viag spokeswoman said the firms' plan to form a diversified industrial group through their tie-up was on track.

"There are no problems with the merger," Viag's press spokeswoman was reported as saying, who added the tie-up talks were progressing well.

Separately Algroup also denied that the merger, which would create a fourth major force competing in Europe's aluminum smelting and fabricating sector, was on the rocks.