Household appliances, Sweden sets its sights on Italy. According to reports from Reuters, the managing director of Electrolux Keith McLoughlin has expressed interest in some of Indesit's assets.
“Are there parts of companies like Indesit that might be attractive to us considering their portfolio? Yes – she said on the sidelines of the presentation of the quarterly results, adding however – Are there parts of their portfolio that we don't need? Yes. It's not an easy equation to solve”.
On 4 November Fineldo, the reference shareholder of Indesit, had communicated to the Board of Directors that he had granted a mandate to explore strategic alternatives, fueling speculation on potential operations involving the Fabriano group.
Around 10.30 Indesit shares gained more than 1%, after having reached a maximum of 8,87, up 4,4% following the declarations of the number one of Electrolux.
The Swedish group – which owns the Frigidaire, Aeg and Zanussi brands – expects limited growth in global demand for the market in 2014, but Europe will remain flat. In Europe in 2013 the demand for Electrolux products should drop by 1-2%.
