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Source denies report Safran preparing Zodiac bid

Reuters - UK Focus

PARIS, June 15 (Reuters) - A French financial publication reported on Wednesday that French aerospace group Safran (Swiss: SAF.SW - news) was preparing a bid for Zodiac Aerospace (LSE: 0NR6.L - news) , but a source familiar with the matter denied the report.

Shares (Berlin: DI6.BE - news) in Zodiac Aerospace rose sharply in late afternoon trading after Lettre de l'Expansion issued an email alert saying Safran (LSE: 0IU8.L - news) was "preparing to launch an offer for the Zodiac group".

The source familiar with the matter, speaking on condition of anonymity, said, "There is nothing. This is wrong".

A Safran spokesperson declined to discuss the report, saying it never commented on market rumours as a matter of policy. (Reporting by Tim Hepher; Editing by Andrew Callus)