Spain's NH HOTELES (turnover of ESP 45.6 billion in 1999) have announced the launch of a friendly bid on 100% of the Dutch chain KRASNAPOLSKY HOTELS & RESTAURANTS. This operation, which will be based on the swap of 6.5 NH shares for one ordinary KRASNAPOLSKY share, will create a "group leader in Europe for city hotels", with 154 hotels and 20,000 rooms in 15 countries and turnover of EUR 503 million. The Spanish group's offer is conditional on the takeover of at least 75% of the Dutch chain....