Spain's SOS CUETARA has launched a surprise bid to take over Spain's oil manufacturer KOIPE (EUR 480.5 million turnover in 2000) that controls 30% of the Spanish market. SOS CUETARA is bidding 27 euro a share, or EUR 350 million for the whole of KOIPE, which is indirectly controlled by Italy's MONTEDISON through its subsidiary CEREOL which has a 51.2% stake. In order for it to be successful, the SOS will have to get at least a 15% stake in KOIPE. If SOS CUETARA succeeds, it will become one...