Shares in Italian aerospace and defense group Finmeccanica rise more than 3 percent on Monday, outpacing gains in the broader market, helped by a report of a state-backed Italian offer for its power engineering AnsaldoEnergia unit.
The Italian Strategic Fund unit of State-controlled finance company Cassa Depositi e Prestiti (CDP) has presented an offer with other Italian investors for a 55 percent stake in Ansaldo Energia owned by Finmeccanica, Il Sole 24 Ore said on Sunday citing financial sources.
"The sale of AnsaldoEnergia to the CDP Strategic Fund has a rationale and it is highly probable it comes true," a trader in Milan said.
A spokesperson for the CDP was not immediately available for comment.
Mediobanca says in a note the Italian bid would be an alternative to an offer from Germany's Siemens which sources last week had emerged as favourite bidder.
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