Novartis would consider share-swap for 33.3% Roche stake
Novartis, the Swiss pharma giant, would consider a share swap for its stake in Swiss rival Roche, Aargauer Zeitung reported.
In a wide-ranging interview Novartis CEO Joe Jimenez the Swiss daily a share swap would be an option for the 33.3% stake. Jimenez said the has no plans to sell the stake as he considers it to have a great value that its current share price. Jimenez said he does not need the capital from a sale and is under no pressure to sell. Jimenez described the stake as a financial investment with a strategic component, and explained that the stake gives him the power of veto in addition to its financial value.
Aargauer Zeitung