FRANKFURT Shares in German lighting group Osram (OSRn.DE) jumped more than 6 percent on Monday as traders cited a report that Siemens (SIEGn.DE) was weighing selling its 17 percent stake in its former unit.
Bloomberg reported Siemens was considering selling its Osram stake to Chinese investor GSR GO Scale Capital. A deal could be announced as early as this month, the report said. (bloom.bg/2cSZOS4)
"It seems investors are happy that Siemens has found a buyer instead of having to sell the shares via the stock exchange," one trader said.
Osram shares were up 8.7 percent by 1207 GMT at the top of a 1.2 percent weaker German midcap index .MDAXI
Osram and Siemens declined immediate comment.
(Reporting by Hakan Ersen, Thyagaraju Adinarayan, Jens Hack and Georgina Prodhan; Writing by Harro ten Wolde; Editing by Victoria Bryan)