Italcementi shares jump 4% on back of exclusive talks with Asec

Italcementi, the Italian cement and construction materials group, yesterday saw its share price jump 4.15 per cent to close at EUR13.30 in Milan, after announcing that it had signed an agreement to enter exclusive talks for 60 days to acquire a majority stake in Egypt’s Asec Cement. 

The news also boosted other cement groups’ shares in Milan. Competitors Buzzi Unicem and Cementir saw their share prices rise respectively by 5.9 and 2.52 per cent.