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The Spanish stock market regulator has lifted a suspension on the trading of shares in Siemens Gamesa Renewable Energy, following a denial of takeover rumours.

Comisión Nacional del Mercado de Valores (CNMV) had earlier today (18 May) suspended trading of shares in Siemens Gamesa Renewable Energy amid reports parent company Siemens Energy may launch a takeover bid.

In a short statement, it explained that it had halted trading “due to circumstances that could disturb the orderly course of transactions on such instruments".

The suspension came as Spanish business title Expansion reports that Siemens Energy has hired investment banks Morgan Stanley and Deutsche Bank to analyse different strategic alternatives for Siemens Gamesa, including a possible takeover.

Siemens Energy has since written to the regulator denying that it plans to launch a takeover bid for Siemens Gamesa, or that it had mandated Morgan Stanley or Deutsche Bank to analyse strategies. However, in a statement to “uåX˜äŠÊ˜·³Ç, the company would not rule out a future takeover bid for the turbine manufacturer.

CNMV added that it had allowed trading to resume as it had been given "sufficient information on the circumstances that led to the adoption of the suspension agreement".

Siemens last year acquired Iberdrola’s 8.1% stake in the German-Spanish turbine manufacturer, boosting its holding in the company to 67%. The 33% remainder is held by public investors.

Siemens Gamesa declined to comment.

A Siemens Energy spokesperson added: 

A Siemens Energy spokesperson added: “The energy market is undergoing a tremendous transformation and so is Siemens Energy in order to be able to drive and shape energy transition. It goes without saying that we perform a strategic review of our entire portfolio on a regular basis and our stake in SGRE is part of such strategic portfolio review. 

“We do not comment on speculation, but we stand by what our CEO Christian Bruch already said at the quarterly call on May 5: While we can of course not exclude any scenario in the future, we are currently not working on a takeover-bid in relation with SGRE.”