Russian firm eyes Italian solar power takeover: report

23rd December 2010, Comments 0 comments

Russian tycoon Viktor Vekselberg's Renova holding is planning to take control of Italy's biggest solar power company Kerself, Italian newspaper Corriere della Sera reported on Thursday.

"Kerself's Russian associates could soon take control of the group," the daily reported, without citing its sources.

Shares in Kerself, based in central Italy, were up more than 11 percent on the Milan stock exchange after the report.

Kerself was founded in 1998 and has turnover of around 330 million euros (430 million dollars) a year. Renova subsidiary Avelar Energy Group owns a 29.9-percent stake.

Kerself has investments in Bulgaria, Israel, Russia and Turkey.

© 2010 AFP

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