Nordea stock rises amid SEB share speculation

The price of shares in Nordea bank rose by 11 percent on Thursday morning following speculation that SEB bank may be preparing a bid for the state's share in the company.

The Swedish state’s 19.9 percent shareholding grew in value by 6.2 billion kronor during early trading following revelations in Dagens Industri that SEB would be prepared to pay 30 percent above the odds for the state’s share.

It was not clear whether SEB had presented a concrete proposal to Fredrik Reinfeldt’s government but the bid was thought to be worth 138 kronor per share.

According to Dagens Industri, SEB has been preparing a bid for its competitor for the last six months.

The entire banking sector received a lift on Thursday morning as a result, with SEB, Handelsbanken and Swedbank each rising by around 3 percent.