Iveco jumps after report CSG submits bid for IDV worth over 1.5 billion euros
Shares in Italy's Iveco IVG.MI rise as much as 5.1% after report of Czechoslovak Group (CSG) submitting non-binding offer for defence unit of Italian truck and bus maker IDV
Offer could "far exceed" 1.5 billion-euro ($1.70 billion) bid by Italian aerospace and defence firm Leonardo LDOF.MI and Germany's Rheinmetall RHMG.DE - report, citing sources
IDV also received offers from Spanish defence company Indra IDR.MC, buyout firms Bain and KPS, according to El Economista and Bloomberg News
Leonardo's JV offer "remains in pole position for political-industrial reasons", brokerage Equita says
Adds, IDV'S valuation of around 1.5 billion euros "should be considered as a floor"
"In this scenario, Indra may withdraw offer and/or submit it jointly to the Leonardo JV" - Equita
As of 0830 GMT, Iveco up over 4%, outperforming pan-European STOXX 600 .STOXX, which is up 0.3%
($1 = 0.8819 euros)
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