THE HAGUE, Wednesday - UK investment company Mecom plans to acquire publisher Wegener. A bid announced by the two companies yesterday values Wegener at a minimum of 792 million euros.

Mecom has offered 17.70 euros per share in cash, valuing Wegener at 792.2 million euros. Shareholders can also opt for a bid in Mecom shares worth 18 euros per Wegener share, making a price-tag of 805.7 million euros.

Amsterdam bourse-listed Wegener is the Netherlands' biggest publisher of regional newspapers. Its share price closed at 16.80 Monday, opening up 4.8 percent yesterday on the takeover news announced pre-bourse.

While Wegener and Mecom have reached agreement on the offer price, no official bid has yet been launched. Mecom and Wegener still have to reach agreement on the conditions for a bid, such as personnel policy, the company's structure and the strategy, according to CFO Koos Boot. He expects this will happen within two weeks.

Mecom already owns 23.7 percent of the publisher's shares. It acquired this stake in March from Telegraaf Media Groep (TMG), after which Wegener acceded to an invitation from Mecom to enter into talks.