Kone could acquire rival to create buffer against Otis
Kone, the Finnish lift maker, could acquire a rival to create a buffer against its main competitor the Connecticut – based Otis, according t Helsingin Sanomat. The Finnish language piece had written an unsourced analysis about Kone’s quarterly results and wrote that due to its large cash reserves Kone could buy one of its significant rivals. With such acquisition it could boost its position against its chief rival Otis.
Kone reported sales of EUR 8.6bn last year, according to a press release.
Helsingin Sanomat,