French market regulator clears Italcementi tender offer

French market regulator Autorité des Marchés Financiers (AMF) has cleared Italcementi's tender offer on French unit Ciments Francais, paving the way for the operation aimed at strengthening the Italian cement maker.

Italcementi is expected to launch the offer priced EUR79.5 per share by the end of the month.

Italcementi owns 84.48 per cent in the French producer and 91.38 per cent of voting rights.