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Spain's ACS ponders upping stake in Hochtief after share drop

MADRID, July 29 (Reuters) - Spanish building firm ACS is pondering to increase its 50.4% stake in Germany's Hochtief, the company said on Monday, taking advantage of a 21% drop in the value of Hochtief shares over the past three months.

"Regarding your question about Hochtief, of course it is one option and of course it is an option that we are analyzing," CEO Marcelino Fernandez Verdes told a conference call when asked about the possibility of increasing ACS stake in its German peer.

ACS used Hochtief shares to partially finance the acquisition of a 49.99% stake in toll-road operator Abertis last year. (Reporting by Andres Gonzalez, editing by Andrei Khalip)