"We do not exclude that there may be news soon, but we do not confirm it". Paolo said it today Pininfarina, chairman of the historic automotive design company, responding to a question about a possible merger within the April 29 shareholders' meeting. The company has recently expressed interest in the Indian group Mahindra&Mahindra.
After these words the share price of the Italian company on the Stock Exchange, which has soared in recent months, was suspended in the volatility auction with a leap of 11,39%, to 6,015 euros.
The holding company of the Pininfarina family, Pincar, has 76% of the company, a share pledged to the creditor banks. An agreement on the heavily indebted group will therefore also have to pass through the assent of the credit institutions.
Two sources told Reuters news agency, Mahindra&Mahindra intends to submit an offer for Pininfarina, the result of an agreement with the shareholder family, by 29 April.
