FINMA grants exemption, clears way for Schmolz+Bickenbach capital hike
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ZURICH (Reuters) - Swiss market supervisor FINMA on Monday allowed Schmolz+Bickenbach's big shareholders to increase their stakes without having to make a takeover offer for the entire business, boosting the steelmaker's fight for survival.FINMA said Martin Haefner's BigPoint Capital can increase its 17.5% stake to 37% as a condition of taking part in a capital increase of at least 325 million Swiss francs (254 million pounds) without the mandatory offer requirement kicking in.The exemption..