Italy's Risanamento shares higher on buyout talk
MILAN, June 7
MILAN, June 7 (Reuters) - Shares in Italian real estate company Risanamento rose sharply at the start of trade on Friday following a report an Italian businessman was considering buying a majority stake and launching an offer on the outstanding shares.
Luigi Zunino, the man who founded Risanamento, has tabled a binding offer to buy the stake in Risanamento from a series of banks and investors at 0.25 euros per share.
The paper said Zunino would then launch a bid on the shares he did not already own.
At 0705 GMT Risanamanto shares were up 6.7 percent at 0.2476 euros.
Risanamento was not immediately available for a comment.
(Reporting By Stephen Jewkes, editing by Danilo Masoni)