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Holcim in merger talks with Lafarge

AFP
Swiss cement group Holcim is poised to merge with French rival Lafarge to great a global concrete behemoth

Swiss cement group Holcim announced on Friday that it is in merger talks with building supplies giant Lafarge.

Shares in the Swiss company surged by over 4 percent and Lafarge stock climbed by 6 percent late on Friday on rumours ahead of the announcement.

The price of Holcim shares surged 4.33 percent to 78.30 Swiss francs. The main SMI Swiss stocks index was showing a fall of 0.12 percent to 8,511.49 points.

Lafarge shares jumped 6.13 percent to 62.46 euros while the Paris CAC 40 was showing a gain of 0.69 percent.