Italy's Pininfarina shares surge on India interest
AFP - [email protected]
Published: 25 Mar, 2015 CET.
Updated: Wed 25 Mar 2015 14:54 CET
Shares in Italian auto design group
Pininfarina surged more than ten percent on Wednesday on a report Indian conglomerate Mahindra was planning a bid.
In mid-afternoon trading, the stock was up nearly 15 percent at €4.69, giving the financially troubled group a market capitalization of more than €140 million.
Quoting sources close to negotiations, Bloomberg said Mahindra was on the verge of purchasing a company responsible for the design of more than 1,000 cars for the likes of Ferrari, Alfa Romeo and Peugeot.
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In mid-afternoon trading, the stock was up nearly 15 percent at €4.69, giving the financially troubled group a market capitalization of more than €140 million.
Quoting sources close to negotiations, Bloomberg said Mahindra was on the verge of purchasing a company responsible for the design of more than 1,000 cars for the likes of Ferrari, Alfa Romeo and Peugeot.
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