LJUBLJANA Oct 2 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
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
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
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)