STOCK NEWS EUROPE-Slovene insurer Triglav jumps on takeover talk
LJUBLJANA Oct 2 (Reuters) - Shares of Slovenia's largest insurer Zavarovalnica Triglav jumped almost 6 percent on Tuesday after daily newspaper Finance reported that Croatian Adris Grupa is interested in buying a majority in the insurer.
By 0856 GMT, Triglav shares rose 5.57 percent to 14.78 euros while the blue-chip SBI index lost 0.25 percent.
"Triglav jumped because of the news that Adris Grupa is interested in buying it and could rise further over the coming days and weeks amid takeover speculations," said Jure Vrhunec of Raiffeisen Bank.
Adris Grupa told Reuters it was looking at various business opportunities, including "investment into insurance industry at home and in the region" but gave no specific comment on Triglav.
Slovenia's neighbour Croatia, scheduled to join the European Union next July, plans to sell a majority stake in its own biggest insurer, Croatia Osiguranje next year.
Triglav, which has market capitalisation of 318 million euros ($410.38 million), is owned by the state, which is expected to put a number of firms, including Triglav, up for sale in the coming months as it struggles to bring down the budget deficit.
Triglav also operates in Croatia, Bosnia, Serbia, Macedonia, Montenegro and the Czech Republic. ($1 = 0.7749 euros) (Reporting By Marja Novak, additional reporting by Zoran Radosavljevic in Zagreb; Editing by Zoran Radosavljevic and)
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