Amber fund won't take part in Hitachi bid for Ansaldo STS

Even after Consob ordered price to be raised

(ANSA) - Milan, February 5 - Italy's Amber fund won't take part in Hitachi's bid for transportation company Ansaldo STS, not even after bourse regulator Consob ordered the price to be raised, the fund said Friday. "We are convinced that Ansaldo is worth a lot more than what's on offer, thanks to the synergies that can be extracted from collaboration with Hitachi," a source told ANSA. Amber, which reportedly has 2.3% of Ansaldo STS, is weighing whether to appeal to a regional administrative court (TAR) against Consob.


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