Salini plays down takeover rumours
Italian construction group Salini is playing down press speculation that it is considering a possible buyout of Impregilo, having already amassed just over 15% of its compatriot.
In a statement that it described as a "clarification of the rumours", it said that it confirmed the strategic motivation of the investment made in Impregilo, and that it had a willingness to pursue an agreement with the group.
However, after reports this week that it would be prepared to bid for its rival if a merger could not be agreed, Salini said it reiterated that it had not decided on any action on offers to purchase or exchange Impregilo shares.
An amalgamation of Salini and Impregilo would create a huge Italian group. Salini Construttori came in at number 74 in the latest CE-100 list of Europe's top contractors, with a turnover of around €1.1 billion. Impregilo was at number 46, with sales of €2.06 billion.
Salini bought 8% of Impregilo's shares in October 2011. In December , when it announced that it had a stake worth 15% in Impregilo, Salini said the investment was "within the framework of a project to combine top Italian players to create a leading European group that can better compete in the international arena".
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