STOCKS NEWS EUROPE-Solvay gains on report of pharma bidding

Shares in Belgian chemicals and drug maker Solvay (SOLB.BR) gain after FT.com reports that it has narrowed the list of bidders for its pharmaceutical business to Swiss company Nycomed [NYCMD.UL] and Abbott Laboratories (ABT.N) of the United States.

Solvay's spokesman declines to comment.

Solvay shares hit a two-week high of 61.5850 euros, a gain of 5.4 percent, making them the second strongest in the FTSEurofirst 300 .FTEU3.

"The market is seeing this as final events making a sale closer. On the other hand, there are only two bidders left," a Brussels-based trader says.

He also urges caution, saying that Abbott is only interested in cholesterol-fighting drug TriCor, while Nycomed might not be able to afford a deal such as this. For more double click on [ID:nLE445137]]

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