Skis Rossignol stock flies on Quiksilver move

3rd January 2005, Comments 0 comments

PARIS, Jan 3 (AFP) - Shares in French group Skis Rossignol, the biggest manufacturer of ski equipment in the world, sizzled upwards by 12.66 percent in the first trading session of the New Year on Monday on news in a newspaper interview that US sports group Quiksilver was stalking a stake.

PARIS, Jan 3 (AFP) - Shares in French group Skis Rossignol, the biggest manufacturer of ski equipment in the world, sizzled upwards by 12.66 percent in the first trading session of the New Year on Monday on news in a newspaper interview that US sports group Quiksilver was stalking a stake.  

Shares in Skis Rossignol rose by 12.66 percent to EUR 17.35. There has been heavy speculative trading in the stock since November 12.  

The business newspaper Les Echos carried an interview on Monday with Skis Rossignol chairman Bernard Mariette that Quiksilver had begun talks with the main shareholder, the founding family, with a view to buying its interest.  

The family, Boix-Vives, controls about 45 percent of the capital and 63 percent of the voting rights.  

At brokers Fideuram Wargny, analyst Virginie Blin commented that consolidation of Skis Rossignol into a big industrial group would generate economies of scale quickly.  

Blin had said in a report in December that the company could be attractive to a US group owing to its leading position in the winter sports sector, a strong brand and because it owned a subsidiary in the golf sector which offered growth potential.  

At the time she had mentioned the names of Nike or K2 as possible interested parties, but not Quiksilver.

© AFP

Subject: French News

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