HELSINKI, April 1 Finland's state investment
fund Solidium is not keen on engineering group Metso
being merged with Weir Group, its head said
on Tuesday, adding Metso should remain independent.
Scottish engineering company Weir has approached Finnish
rival Metso over a possible $5 billion combination as it tries
to expand its core mining division to match its rapid growth in
oil and gas.
Solidium, which manages Finnish state's holdings, including
its 11 percent stake in Metso, thinks that the company would be
better off remaining independent.
"Metso has an excellent path in front of it as an
independent company, so I don't think this is the right time to
contemplate selling the company," Solidium Managing Director
Kari Jarvinen said.
"I don't think this is the right time to sell Metso to Weir
Group, or to sell it to anyone."
(Reporting by Sakari Suoninen; Editing by Erica Billingham)