Rueters reports that hares in Elica are suspended from trading limit up, ahead 9.4 percent after comments from the company in newspaper Il Sole 24 Ore about Whirlpool buying shares in the Italian cooker hood manufacturer .
An analyst says the report repeats news, released on June 15, that extended to the end of the year the period during which Whirlpool can raise its stake in Elica to 15 percent.
“The article increases Elica’s speculative appeal,” he says. The U.S. appliances company holds 7 percent of Elica under an alliance.
The possibility of Whirlpool taking over Elica, as the newspaper speculates, is unlikely, he says, as Elica would put at risk its supplies to other white goods makers.
A company official agrees the Il Sole report does not add anything to the June 15 announcement.