Italcementi up 5 pct after merger abandoned

MILAN, June 29 (Reuters) - Shares in Italian cement maker Italcementi (ITAI.MI) were up more than 5 percent in early trade after it said merger plans with French unit Ciments Francais (CMFP.PA) have been abandoned.

The companies said in a Saturday statement conditions for the proposed merger had not been met. [ID:nLR497871]

At 0712 GMT, shares were trading around 8.28 euros.

Ciments Francais shares dropped 9.5 percent. [ID:nWEA8685]