Indesit Considers Submitting to Subjugation
Submitted by advisor on Wed, 01/28/2009 - 2:43pm.
La Rubblica reports that Italian manufacturer Indesit, parent of Ariston, Sholtes and Indesit, is considering selling itself to BSH or Arcelik of Turkey.
Indesit has experienced several notable failures and challenges even before the recent economic step function. The failure of Ariston in North America, Euro costs, etc. The stock price has fallen 60% since September 2008, falling 80% since July 2007.
Indesit's sale come on the heals of the bankruptcy of Antonio Merloni Group, an Italian manufacturer owned by the brother of Vittorio Merloni, the chairman and owner of Indesit.
For its part, Arcelik has denied that it is in talks with Indesit.
