The Vestas stock took a boost on opening at the Copenhagen Stock Exchange this morning following the company’s confirmation that it is engaged in talks with Mitsubishi.

“Today, there is information in the market that Vestas is in dialogue with Mitsubishi Heavy Industries. Vestas can confirm that there is an on-going dialogue between the two companies regarding a potential strategic cooperation,” the Vestas website says adding that if an agreement is reached it will make a company announcement.

10 minutes after opening the stock had gained 11.5 per cent at DKK38. By 11.15 a.m. the stock was up 16.4 per cent at DKK39.49.

“Although we have no idea whether agreement will be reached, or what it actually means, it is a positive sign that something is happening in that direction,” SydBank Vestas Analyst Jacob Pedersen tells ritzau.

According to Berlingske, Vestas approached Mitsubishi in March to see whether the Japanese giant could be interested in investing in Vestas. The report says that Mitsubishi is interested in gaining access to Vestas technology – something the report says Vestas is not immediately willing to share.

FACEBOOK – Follow Politiken’s News in English