Gamesa rockets on Siemens bid reports

Shares in Spanish wind turbine maker Gamesa Corporacion Tecnologica rocketed on Friday following a media report that Siemens was interested in making a bid for the company.

According to Spanish press reports, Siemens has contracted Deutsche Bank to look into the viability of a possible purchase.

Siemens’ chief executive officer Joe Kaeser is said to be in talks with Iberdrola, which has a 19.7% stake in Gamesa.

In a note to the National Securities Market Commission – Spain’s financial regulator – Gamesa said: "In relation to the news and rumours about a possible corporate transaction between Gamesa Corporation Technology and Siemens AG, we hereby inform you that, in the ordinary course of its activity, the company regularly analyses the various strategic opportunities presented for the group.

“At the date of this communication it has not taken any decision and no agreement has materialised about."

At 1220 GMT, Gamesa shares were up 16% to €16.67.