FRANKFURT (dpa-AFX) - Covestro shares reacted only briefly on Tuesday with significant price losses to rumors about difficult ongoing takeover negotiations with the oil company Adnoc. They temporarily fell to 50.22 euros, but quickly recovered. Most recently, the share was down 0.8 percent at 51.44 euros. Traders referred to speculation from "Betaville". The financial website had reported under the keyword "Uncooked Alert", under which market rumors are passed on, that negotiations with Adnoc were "not going as well as expected". It is not yet clear whether Adnoc has since submitted a new offer to Covestro that was rumored shortly before Christmas, namely over EUR 60 per share in the German plastics manufacturer.

In December, the Bloomberg news agency reported, citing people familiar with the matter, that the state-owned oil company Abu Dhabi National Oil (Adnoc) had approached Covestro with an offer of EUR 60 per share./ck/he