STOCKS NEWS EUROPE-Phoenix Solar gains on M&A speculation

Shares in German solar company Phoenix Solar (PS4G.DE) gain 3 percent, outperforming Frankfurt's technology index .TECDAX, which is up 1.8 percent, as traders point to speculation that General Electric (GE.N) may bid 43.50 euros per share for the company.

"We know nothing about that and have no contact whatsoever with General Electric," a Phoenix Solar spokeswoman says.

A General Electric spokesman says the company does not comment on market speculation.

Last year, shares in Phoenix Solar's peer SolarWorld (SWVG.DE) had been boosted by similar speculation. Last week, shares in Q-Cells (QCEG.DE) gained on rumours Siemens was interested in taking a stake in the company. [ID:nWEA8952] [ID:nLJ364293]

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